The dollar rose amid higher government bonds yields and faster inflation
The dollar strengthened and approached the 10-day high after the data on consumer prices in the US reflected the growing inflationary pressure, which could allow the fed to raise rates twice this year.
The dollar index, which reflects the strength of the dollar against the basket of currencies, rose 0.13% to 94.69.
“The dollar strengthened this week due to trade – related issues that attracted currency investors in search of a ‘safe haven’, “koji Fukaya, President of FPG Securities, said.
“In addition, the US economy has shown that it is growing, and the yield of government bonds has grown; these factors support the dollar.”
The trade conflict between the US and China escalated on Wednesday after Washington announced its readiness to introduce 10% tariffs for Chinese goods worth $ 200 billion.