US Dollar Continues to Strengthen

The US dollar continued to strengthen against the major currencies in Asia, as another interest rate increase is expected in the US this year. Investors raise rates on the back of strong economic data and optimistic comments from Fed officials.

The euro rose slightly in Asia after falling by 0.5% on Thursday to $1.1404 amid continued political uncertainty in Spain. Investors still believe that the European Central Bank will continue to gradually reduce its program of buying bonds.