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Dollar extends gains on uncertainty over Fed's next step
The US dollar rose against most currencies on Friday, as investors parse the recent economic data that raised uncertainty over the Federal Reserve's next move.
The US consumer price index rose less than expected, but the retail sales index rose by 0.7% in August, beating forecasts of a drop by 0.7%.
The Fed is awaiting more signs of the rising inflation rate and the economic recovery to start reducing size of its bond-buying program.
US President Joe Biden criticized the wealthy due to what he described as a massive increase in their wealth of up to $1.8 trillion, which he considers unfair.
The dollar index rose against a basket of major currencies by 0.3% to 93.2 points as of 18:05 GMT, after hitting a high of 93.2 points and a low of 92.7 points.
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