Positive US Data Pulls Dollar Up From 6 Month Lows

The dollar traded above six-month lows against a basket of six major peers on Friday, having gained some reprieve as solid U.S. economic data helped temper a sell-off triggered by political turmoil in Washington.

Dollar last traded at 97.814 against the index having climbing from Wednesday's trough at 97.333, its lowest level since Nov. 9. The dollar index is down more than 1.4 percent so far this week, putting it on track for its biggest weekly slide since July 2016.

The dollar eased 0.1 percent to 111.39 against Yen that was still well above Thursday's low of 110.24 yen, the dollar's lowest level since late April.The euro fell to 1.1095, 0.55 percent against dollar. Sterling fell 0.25 percent against dollar, to 1.2931.

The rupee yesterday fell by a massive 69 paise to end at more than one-month low of 64.84 against the US dollar amid heightened global volatility. This was the biggest single-day slump for the domestic currency since July 26, 2016. Local currency is expected to trade in the range of 64.70-65.10 for the day.

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