The dollar sticks to its gains … but!

The dollar has continued to rise as worries about the world's largest economy have slowed in the face of rising US retail sales, but traders are worried about giving too much weight to individual data because of rising risk prospects.

The dollar is heading towards a weekly gain against safe-haven currencies such as the Japanese yen and the Swiss franc, suggesting a respite for the exhausted nerves after fears of recession and the protests in Hong Kong that rocked the financial markets.

During Asian trade, the dollar briefly prolonged gains and the Japanese yen weakened as Japanese equities wiped out anticipated trade losses and US Treasury yields rose slightly. But the move was partially broken, suggesting a weak trade due to the summer season.

On a basket of six major currencies, the dollar index reached 98,218. After hitting a trough of three weeks on August 9, the dollar index has recovered about 1%.

Data showing that US consumers continued to spend in July helped investors relieve themselves after the US bond market issued recession warnings.

The dollar was little changed at 106.18 yen in Asian trade after rising 0.2% on Thursday.

During the week, the greenback gained 0.5% over its Japanese counterpart, the largest increase since the week ended July 26th.

The dollar gained 0.3% to 0.9787 Swiss francs and is heading towards a gain of 0.6% on a weekly basis.

The pound has risen slightly and is heading towards its first weekly gain since mid-July, with positive retail and consumer price data indicating that the UK economy is in a better situation than some feared. investors.

The pound was trading at $ 1.2088, near the peak of a week of 1.2150.