Dollar edges higher on safety bid; sterling drops after weak retail sales
Investing.com - The U.S. dollar rose slightly Friday, on course for a positive week, while sterling slipped after the release of weak retail sales data.
The U.S. currency has also seen demand as a safe-haven call as relations between the U.S. and China weaken, and uncertainty over the U.S. presidential race grows, amid calls for President Joe Biden to drop his reelection bid. Coupled with recent data that indicated slowing wage growth in Britain and inflation at the Bank of England's 2% target, bets of an August cut have risen to 43%, up from roughly 39% on Thursday.
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