NEW YORK – The US dollar rose from 2-1/2-year lows, as European Union and British negotiators paused talks for a post-Brexit trade deal, weighing on sterling, though the greenback still posted its worst week in a month after investors shrugged off a weaker-than-expected US employment report.
In late trading, the dollar index rose 0.1 percent to $90.725 ahead of the weekend, climbing from its lowest level since April 2018. On the week, the index was down 1.3 percent, its largest weekly loss since early November.
Britain and the European Union paused talks on Friday after failing to narrow differences sufficiently to reach a trade agreement, less than four weeks before Britain completes its Brexit journey out of the bloc.
The negotiators, Britain’s David Frost and the EU’s Michel Barnier, said they would brief their leaders to seek new impetus for the talks.
Upbeat announcements on COVID-19 vaccines have helped drive a rally in riskier currencies at the expense of the safe-haven dollar.
The euro and Swiss franc, in contrast, were headed for their best week in a month against the dollar.