consumer spending increased more than expected in August, posting a 0.8% rise, but consumption was weaker than initially thought in July, dipping 0.1% instead of gaining 0.3%. data was mixed, adding to dollar weakness ahead of the weekend. In afternoon trading, the dollar index slid 0.3% to 94.046, having gained 0.8% this week, the largest weekly rise since late August.įriday's batch of U.S. 'However, more immediately, fiscal policy is the focus, though investors appear to be looking through it, as many find it inconceivable that the U.S. 'The more hawkish stance appears to have been the key factor driving the dollar higher in late September,' said Marc Chandler, chief market strategist, at Bannockburn Global Forex. government's borrowing limit has lent support to the dollar, seen as a safe-haven asset.
10-year Treasury yields were last at 1.484%, down nearly six basis points.įor the week, the dollar index posted its largest percentage gain since late August, as investors looked to the Federal Reserve's reduction of asset purchases in November and a possible rate hike late next year.Ĭautious market sentiment due to COVID-19 concerns, wobbles in China's growth and a Washington gridlock ahead of a looming deadline to lift the U.S.
Treasury yields, as investors booked profits after recent sharp gains, though the decline was viewed as temporary. NEW YORK, Oct 1 (Reuters) - The dollar fell for a second straight session on Friday, tracking declines in U.S.
