By Ira Iosebashvili
The dollar rose against the euro and other currencies Friday as investors braced for a Group of Seven industrialized countries meeting this weekend where trade tensions are expected to dominate.
The euro was recently down 0.2% at $1.1770. The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was up 0.04% at 86.84.
In emerging markets, the dollar was recently down more than 5% against the Brazilian real. Brazil's central bank has vowed to intervene in markets to steady its falling currency, according to reports. The dollar has gained nearly 12% against the real this year.
"The markets viewed the interventions as a credible measure," said Alvise Marino, a strategist at Credit Suisse.
In the longer term, fiscal pressures and political concerns likely to spur volatility in the real, he said.
Write to Ira Iosebashvili at [email protected]