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Dollar holds onto gains, but sentiment remains fragile


Friday, 16 August 2019 08:20 WIB

DOLLAR Indeks DolarDolar ASUSD


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The dollar held onto gains on Friday after a surge in U.S. retail sales eased concerns about the world's top economy, but traders cautioned against reading too much into one piece of data given the growing risks to the outlook.

The greenback was on course for a weekly gain against safe-haven currencies such as the Japanese yen and the Swiss franc, pointing to some respite for frayed nerves after fears of recession and protests in Hong Kong rattled financial markets.

Data showing American consumers continued to splurge in July came as a relief to investors after the U.S. bond market sounded alarms of a recession.

The dollar was little changed at 106.11 yen early in Asian trading after rising 0.2% on Thursday. For the week, the greenback was up 0.4% against the Japanese currency.

Against a basket of six major currencies, the dollar index edged higher to 98.131. Since hitting a three-week low on Aug. 9, the dollar index has recovered, rising 1.1%.

Source : Reuters


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