Dollar Steady Near One-Week High as Euro and Sterling Gain

The US dollar held steady near its one-week high against major peers on Friday. The dollar index, which measures the currency's value against six major peers, remained at 99.13 in early Asian trade.

Despite being near a one-week low, the euro and sterling managed to stay on track for their second consecutive monthly gain against the greenback. The euro was last at $1.1652 and the sterling at $1.3597.

The yen also remained relatively unchanged, trading at 159.34 per dollar but still set to rise by 1.3 percent in August, its biggest monthly increase since late 2024.

The Australian dollar surged nearly 0.1 percent, hitting a three-month high of $0.72 as rate hike bets accumulated, while the New Zealand dollar gained 0.2 percent to $0.5960.