Dollar climbs after a batch of US data
Dollar rose against major currencies on Friday, bolstering the gains following a batch of new data.
- The data showed retail sales were flat last month, while analysts expected a 0.2% rise.
- Core sales rose 0.1% last month, beating estimates of a 0.1% dip.
- Michigan\Reuters consumer confidence index rose to 59.8 in October from 58.6 in September.
- Recent data this week showed consumer prices rose 8.2% in September, while analysts expected 8.1%, and compared to 8.3% in August.
- Such data bolsters the case for aggressive policy tightening and rate hikes by the Fed, which threatens a global recession.
The dollar index rose 0.8% to 113.2 as of 17:56 GMT, with a session-high at 113.4, and a low at 112.1.