The super dollar turns and rises after retail sales data

The dollar index gains 0.26%, to 101.22 units, after having previously fallen to 100.78, its lowest level since last April.

The index is on track to record a weekly drop of more than 0.2%, its fifth straight weekly drop.

Find out more – I followed the price of the blue dollar, official, CCL and MEP in Argentina

Investors are pricing in the likelihood that the Fed will have to cut rates at the end of the year due to an expected slowdown. However, the economy is still relatively resistant for now.

“The general issue is that there is a slowdown taking place,” he said. mazen issa, of TD Securities in New York. “I think what’s being overlooked is that things may take longer to develop and the US economy is more resilient than people thought.”

The dollar fell initially, but then rose after data showed that the retail sales in the United States fell more than expected in Marchas consumers reduced purchases of motor vehicles and other high-value items.

The report came just before Fed Governor Christopher Waller, stated that, despite a year of aggressive rate hikes, the monetary authorities “have not made much progress” in bringing inflation back to their 2% target and need to raise rates further.

The dollar has fallen as data this week showed a cooling of inflation: Consumer prices barely rose in March, while producer prices fell unexpectedly in the month.

However, part of the rally on Friday may be because the investors were collecting profit from trading who were betting on a fall in the greenback.

He euro it gave up 0.23% to $1.1025. It had previously hit $1.10755, its highest since April. The US currency advanced 0.35% against the and inat 133.05 units.