Dollar rises on safe-haven bids

The US dollar rose against its major peers on Friday, as investors turned to safe havens and a avoided risky assets after weak economic data.

Data showed today that the US retail sales index fell 0.7% in December, while the producer price index rose 0.3%, lower than forecasts of 0.4%.

The core retail sales reading (excluding automobiles) fell 1.4% in December, lower than forecasts of 0.1%.

President-elect Joe Biden revealed yesterday a $1.9 trillion stimulus package to boost the economy from the Covid crisis..

The dollar index fell against a basket of major currencies by 0.5% to 90.7 as of 18:44 GMT, after hitting a high of 90.7 points and a low of 90.2 points.