Economy

Dollar bounces on solid U.S. data, higher yields

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The dollar rose against a basket of currencies on Friday, rebounding from a near 1-1/2-month low, as upbeat U.S. economic data and higher Treasury yields rekindled some investor appetite for the greenback.

The world’s top reserve currency was still on track for a weekly loss as reduced trade tensions between China and the United States, together with encouraging developments between Britain and the European Union on terms for Britain’s exit from the economic bloc, pared safe-haven demand for the dollar.

“Generally today’s data showed strong results, which are supporting the dollar. Higher yields are also giving it a boost,” said Brian Daingerfield, macro strategist at NatWest Securities in Stamford, Connecticut.

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Chris G. Long

Chis Long is an award winning writer for The San Andreas Times, and various other publications. He lives in Sacramento with his wife and two children.

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