The dollar exchange rate declined on Friday almost to the lowest level in four months. This occurred after the President of the Federal Reserve, Jerome Powell, stated that the central bank may raise rates in case of accelerating inflation.
Powell noted that the cost of living in the U.S. is rising faster than expected. "As soon as we are convinced that inflation is indeed transitioning into a long-term threat, we will take measures," emphasized the head of the Federal Reserve.
As a result of such statements, investors began to sell dollars, turning to other currencies, particularly the euro. The euro exchange rate against the dollar increased by 1.38%, reaching a level of 1.16 dollars.
