The dollar rose on Friday, ticking up with Treasury yields and on track for weekly gains, as investors await U.S. retail sales data and remarks from Federal Reserve officials that could cement expectations of a U.S. interest rate hike this year.
The safe haven yen and the Swiss franc were under pressure after risk sentiment got a boost from Chinese data that showed producer prices rising for the first time in nearly five years. That boded well for the global economy which has been battling the threat of deflation in recent months.
The dollar index, which tracks the greenback against a basket of six major currencies, added 0.35 percent to 97.842. It was not far from a seven-month high of 98.129 touched on Thursday, and up 1.2 percent for the week, and more than 2.5 percent for the month so far.
Retail sales data would offer some insight on the strength of U.S. consumption. Following the data, Fed Chair Janet Yellen will address an economics conference, at which Boston Fed governor Eric Rosengren will also speak.
The minutes of the latest Fed meeting in September, released on Wednesday, prompted investors to raise their bets of a Fed rate increase at its December policy meeting. Markets are now pricing in around a 70 percent chance that the Fed will move.Risk Warning:
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