Dollar edges higher, pares early losses

The US dollar tilted higher against most of its counterparts on Friday, to pare its early losses, as fears about the coronavirus crisis mounted.

Data showed today that the US personal income index rose by 0.9% in September, beating forecasts of 0.3%.

The US personal spending rose 1.4% in September, beating forecasts of a rise by 1%.

The number of coronavirus infections rose to more than 45 million cases worldwide and continues to soar in the US and Europe, which forced some governments to re-impose public lockdown restrictions to curb the virus spread.

The dollar index rose against a basket of currencies by 0.1% to 94.02 points as of 20:00 GMT, after it hit a high of 94.08 and a low of 93.6.