The dollar rose against a basket of currencies on Friday as investors covered shorts and took profits after the biggest monthly decline in the currency in a decade. The dollar index =USD was down 4.1% for July, its biggest monthly percentage fall since September 2010, with most of the drop coming in the last 10 days as new coronavirus cases surged across several U.S. states and some recent data pointed to an economic recovery losing steam. On Friday, the dollar mostly held gains after data showed U.S. inflation-adjusted consumer spending has pulled out of April’s deep hole but remains below its pre-pandemic level, and the currency strengthened as the session wore on. After sliding as low as 92.539 earlier, the lowest since May 2018, the dollar index was last up 0.6% at 93.377. “You had the dollar enter into a very serious decline over the […]

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