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Dollar Heads for Best Week This Year Before CPI, Retail Sales

  • Greenback may test 115 yen on strong data, Ueda’s Ono says
  • Kiwi declines for second day as manufacturing growth slows
Bloomberg business news

Retail Struggles While Consumers See a Rebound

The dollar headed for its best week this year before reports forecast to show inflation and retail sales both increased last month, backing the case for the Federal Reserve to keep raising interest rates.

The greenback has gained versus all of its Group-of-10 peers this week after payroll data and producer prices exceeded economists’ estimates. Cleveland Fed President Loretta Mester said the U.S. economy warrants gradual policy tightening, while Boston Fed chief Eric Rosengren called for three more rate hikes this year. New Zealand’s dollar fell after manufacturing growth slowed.