U.S. Dollar Edges Higher

The U.S. dollar edged higher against a basket of major currencies on Friday after strong data on U.S. consumer sentiment calmed nerves after a week of severe market volatility.

The Thomson Reuters/University of Michigan preliminary October reading on the overall index on consumer sentiment came in at 86.4, the highest since July 2007 and marking an unexpected gain.

The data eased traders’ concerns after worries surrounding the health of the global economy shook stocks, bonds and currencies markets this week. The dollar had gained against the euro, yen, and Swiss franc earlier in the session on greater stability in markets.

CNBC

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