Dollar steadies after positive economic data

The US dollar held steadily against most of its rivals on Friday, after the release of better-than-expected economic data.

Data showed today that the US retail sales rose 0.7% in September, while analysts forecast a drop by 0.2%, and the core retail sales reading rose 0.8%, beating forecasts of 0.5%.

The season of the US companies quarterly earnings results continues, as some major banks reported higher profits and revenues than expected in the third quarter, which points out the ongoing economic recovery from the pandemic.

The Federal Reserve meeting minutes showed that the central bank's members discussed a plan to reduce asset purchases by $15 billion per month.

The dollar index held against a basket of major currencies at 93.9 points as of 18:46 GMT, after hitting a high of 94.07 points and a low of 93.8 points.