Economics
Dollar Rises to Two-Week High as U.S. Data Buoy Economic Outlook
- Personal consumption, corporate profit data spur optimism
- Greenback retreated earlier on report of Trump currency review
JPM's Lebovitz Says U.S. Dollar Has Reached Its Peak
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The dollar climbed to a two-week high against the euro after U.S. data showed gains in personal consumption and corporate profits.
The U.S. currency gained against most of its major peers, with the Bloomberg dollar index on track for its first weekly advance in three. The greenback wiped out an earlier retreat sparked by a CNBC report that the Trump administration is assessing the scope of its power to penalize countries whose currencies it says are undervalued.