Dollar rose on Friday, trading near a 10-day peak after U.S. consumer prices data on Thursday showed a build-up of inflation pressure that would allow the Fed to raise rates as many as four times this year.
The U.S. Dollar Index that tracks the greenback against a basket of currencies was up 0.13% at 94.69 by 1:00AM ET (05:00 GMT).
“The dollar has benefited this week from the trade conflict concerns that emerged earlier, which ended up funneling safe-haven bids into the currency,” said Koji Fukaya, president of FPG Securities in Tokyo.
“On top of that, the U.S. economy has shown it is doing well and Treasury yields have risen, and these factors are all helping the dollar.”
