Greenback is on track for weekly revenue as investors await Yellen
On Friday, the greenback held below this week's peaks, though still on track for a weekly revenue, as market participants awaited American retail sales data and remarks from Fed officials, which could cement hopes for of an American interest rate hike this year.
The dollar index, usually tracking the greenback against a basket of major currencies, ascended 0.1%, hitting 97.615.
It was below a seven-month peak of 98.129 hit on Thursday, though still up 1% for the week as well as more than 2% for the month so far.
Retail sales data could provide a deep insight on the strength of consumption. Well, following the data, Fed Chair Janet Yellen is expected to address a Boston Fed economics conference, at which Boston Fed governor Eric Rosengren will speak too.
The minutes of the latest Fed gathering in September, issued on Wednesday, prompted market participants to increase their bets of a Fed rate hike at its December policy gathering. Markets are currently pricing in about a 70% probability that the US major bank will move.