LONDON—The dollar edged down from its recent 20-year high on Friday but was still on track for its best month since 2015, having been boosted by a combination of expectations for U.S. rate hikes and growth concerns in China and Europe.
In the final trading day of a seismic month for currency markets, major currency pairs pulled back slightly from their recent trajectories as global markets stabilized and investors took profit on dollar gains.
At 1047 GMT, the dollar index was down 0.6 percent on the day at 102.98, but still set for a 4.8 percent gain in April.
Weaker-than-expected U.S. growth data on Thursday did little to stop the dollar’s rise, with investors still expecting a 50 basis point rate hike at the Federal Reserve’s meeting next week.
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