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The dollar rose against the euro on Friday, but incurred a fifth consecutive week of loss against the European currency, after the decline in consumer spending growth in the United States raised hopes that the US Federal Reserve will slow the pace of raising interest rates.
US consumer spending rose modestly in February after rising sharply in the previous month. While the pace of inflation has slowed, it remains high, which may prompt the Federal Reserve to raise interest rates again this year.
Bitcoin rose 1.9 percent to $ 28,530, achieving its best quarterly performance since March 2021, with gains of about 70 percent from the level of $ 16,625 at the beginning of the year.
The dollar index, which measures the currency against six major peers, fell 0.5%, Friday, to 102.17, thus falling just under 2% in the first quarter.
The euro fell 0.48% to $1.0852, but rose on a weekly basis by 0.8%, achieving gains for the fifth consecutive week against the dollar. During the week, the euro rose to 1.0905, the highest level since March 23rd. For the year, the euro rose nearly 2% in the first quarter, after falling 5.7% in 2022.
On Friday, sterling fell 0.4% to $1.2337, and on a monthly basis, the sterling pound rose 3% against the dollar in March, its strongest performance since November 2022, as main inflation in Britain showed no signs of slowing. On a quarterly basis, sterling rose nearly 2%.
