Dollar Strengthens as China Eases Forex Loan Rules

The US dollar advanced in late trading on Friday, closing at 99.917 against six major peers.

In New York trading, the euro lost ground to $1.1531 from $1.1535 in the previous session, while the British pound gained to $1.3482 from $1.3476.

The dollar also strengthened against other currencies: it bought 158.90 Japanese yen, lower than the previous day's 158.93; rose to 0.8082 Swiss francs from 0.8040; and increased to 1.4019 Canadian dollars from 1.3996.

China's State Administration of Foreign Exchange (SAFE) recently rolled out new rules to ease access to domestic foreign-currency loans, aiming to streamline financing for exporters and reduce administrative burdens on businesses.