Yields up as June U.S. retail sales unexpectedly rise
Benchmark 10-year notes gained half a basis point on the day to 1.302%. They are holding just above last week's five-month lows of 1.250% and are down from 1.776% in March.
Dollar ends week strong on upbeat U.S. retail sales data
The dollar edged higher on Friday, logging its largest weekly gain in a month, after upbeat retail sales data boosted expectations that economic growth accelerated in the second quarter.
The dollar index , which measures the greenback against a basket of six currencies, was 0.11% higher at 92.675. The index is up 0.6% for the week.
Solid U.S. data and a shift in interest rate expectations after the Federal Reserve flagged in June sooner-than-expected hikes in 2023 have helped lift the dollar in recent weeks and made investors nervous about shorting it.
Friday's gains for the dollar came despite Fed Chair Jerome Powell reiterating on Thursday that rising inflation was likely to be transitory and that the U.S. central bank would continue to support the economy.
Reference: Reuters
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