Dollar rises on improving economic outlook

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The dollar stood near multi-month highs against majors on Friday, boosted by optimism over upbeat U.S. economic data, COVID-19 vaccine rollouts, and rising Treasury yields.

The dollar index traded at 92.769, near a four-month high. The dollar index was on course for a 0.9% weekly rise.

The dollar slid to $1.1778 against the euro but hovered near its strongest level since November 2020.

The dollar rose to 109.25 yen, near its highest since June. It traded at 0.9399 on the Swiss franc, holding onto a 0.5% gain from the last session.

The British pound rose to $1.3762 after gaining 0.4% on Thursday. Data to be released on Friday is expected to show a rebound in British retail sales, which could further support the pound.

The Aussie and the kiwi recovered from sharp losses earlier in the week. Both currencies are likely to remain supported because of both countries’ success in controlling the economic fallout caused by the pandemic.

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