The dollar index (DXY00) Friday rose +0.03% but remained below Thursday’s 5-3/4 month high. The dollar on Friday recovered from early losses after T-note yields moved higher after being lower most of the session. Also, pessimism in China’s economic outlook prompted the yuan to fall to a 15-year low against the dollar.
Friday’s U.S. economic news was bearish for the dollar after Jul consumer credit rose +$10.399 billion, weaker than expectations of +$16.000 billion.
