The U.S dollar, on Friday, February 17, remained stuck near a one-week low against a basket of currencies after upbeat economic data failed to lift Treasury yields, with concerns about policy under president Donald Trump quelling hopes of a new rally in the currency.
The greenback was 0.1 percent weaker on the day at 113.140 yen JPY= after losing 0.8 percent overnight. It had briefly risen to a two-week peak of 114.955 on Wednesday.
The euro was a quarter of a percent weaker at $1.0644 EUR= after climbing 0.7 percent the previous day. It was on track to eke out a 0.2 percent gain against the dollar this week, having been hit the previous week by perceived political risks in the euro zone.
U.S. government bond yields, rising steadily over the past 10 days, hit a wall on Wednesday and barring a broader revival in U.S. time, the dollar index was on course for its sixth weekly loss in the past eight.
It traded less than 0.2 percent higher on the day in morning trade in Europe at 100.64, having hit an eight-day low of 100.410 .DXY overnight, Reuters reports.
Indicators released on Thursday shed more positive light on the U.S. economy, with the Philadelphia manufacturing index jumping to a 33-year high.
That followed robust inflation and retail sales data and a boost from U.S. Federal Reserve Chair Janet Yellen who spoke on Tuesday in support of a near-term rise in interest rates.
Yet the political noise surrounding the Trump White House seems to have left some investors less confident about – or at least less focused on – the broad reflation trade that drove the dollar higher in November and early December.
