Breaking News: Dollar Rises After Global Cyber Outage Shakes Financial Markets
In a surprising turn of events, the dollar climbed on Friday, breaking a two-week streak of declines, as a worldwide cyber outage impacted banks, airlines, and broadcasters. The volatility in the currency markets remained contained, but the aftermath of the software update by cybersecurity firm CrowdStrike (NASDAQ:) caused disruptions across various industries.
The dollar index, which measures the greenback against a basket of currencies, gained 0.24% at 104.39 and was up 0.3% on the week. The Federal Reserve is expected to make a policy announcement at the end of July, with markets anticipating a potential cut in September.
While the dollar strengthened against the yen, the euro and sterling saw losses. The euro was down 0.16% at $1.0878, while sterling weakened 0.25% at $1.2909 after disappointing UK retail sales data.
In the world of cryptocurrencies, bitcoin gained 4.86% at $66,924.00, while rose 2.79% at $3,508.90.
Analysis:
– The dollar strengthened after a global cyber outage caused disruptions in various industries.
– The Federal Reserve is expected to make a policy announcement at the end of July.
– Euro and sterling saw losses, while cryptocurrencies like bitcoin saw gains.
– Understanding these market movements can help individuals make informed decisions about their finances and investments.