Dollar heads for fourth straight weekly gain versus euro

On Friday, the US dollar was poised to achieve its fourth consecutive weekly increase against the euro, propelled by soaring US Treasury yields and apprehensions surrounding European government bond markets. Although the greenback slightly reduced its gains following September's underwhelming job growth data and a minor rise in the unemployment rate to 4.2%, it remained buoyed by high US yields approaching multi-decade peaks and heightened oil prices.

This trend has led some investors to decrease exposure to energy-importing currencies like the euro and the yen. The euro has experienced its fourth week of declines against the dollar, the most extended period since mid-May 2025, and is presently up by 0.39% at $1.1285.