Forex Market Update

The ICE U.S. Dollar Index rose for the seventh-consecutive session Friday, boosted by rising crude-oil prices, a strong performance by U.S. stocks and the expectation that the European Central Bank will soon expand its program of asset purchases.

The euro extended more than a week of declines Thursday, falling to another nine-year low, after the European Union Commission’s report on eurozone economic sentiment showed no change from a weak reading in November.

The shared currency EURUSD, +0.11%  fell to $1.175, its lowest since late 2005, around 8 a.m. Eastern time. It was valued at $1.179 in recent trade, down from $1.183 late Wednesday.

The dollar traded at USDJPY, -0.25%  was at ¥119.63, compared with ¥119.16 late Wednesday in New York.

After hitting an 18-month low of around $1.503 earlier in the session, the pound GBPUSD, +0.03% recovered against the dollar, but remained slightly lower for the session, after the Bank of England left its benchmark interest rate at 0.5% and left its bond-buying stimulus program unchanged. The pound traded at $1.51 in recent trade.