The U.S. dollar started Monday near a two-month high, having enjoyed a solid comeback last week after a string of mostly upbeat data convinced markets the Federal Reserve will continue its gradual withdrawal of stimulus.
The dollar index stood at 81.215, after rising 0.7 percent last week to as high as 81.295. Data on Friday showed U.S. industrial output rose at its fastest clip in 3-1/2 years in the fourth quarter, adding to other encouraging reports such as retail sales.
Richmond Fed President Jeffrey Lacker on Friday said signs of an improving labor market justified further reductions in the Fed’s monthly bond purchases.
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