The euro fell to a two-week low on Friday against the dollar, which extended the...
LONDON - The euro fell to a two-week low on Friday against the dollar, which extended the gains it made the day before after U.S. retail sales data came out better than expected .
The dollar was on course to end the week up against the euro, the Japanese yen and the Swiss franc as investors returned to riskier assets. A stable offshore Chinese yuan helped improve risk appetite.Measured against a basket of six major currencies .DXY, the dollar was higher in the early London trading at 98.210. It has recovered by about 1% from its three-week low on Aug. 9.
The inversion stoked worries about the impact of the Sino-U.S. trade war. The curve steepened a little on Friday US2US10=RR. China's offshore yuan, whose plunge past 7 to the dollar last week sent shivers through financial markets, was weaker on Friday at 7.0530. The People's Bank of China fixed the onshore yuan currency at 7.0312 on Friday, compared with market expectations at 7.0307, according to analysts at Commerzbank.
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