Dollar dips after recent gains; U.S. stocks advance with Apple
dollar edged lower but was on track for an eighth straight week of gains on Friday while global stock indexes advanced as Wall Street rose with Apple shares.
The dollar index's weekly winning streak would be its longest since 2014, bolstered by recent reports showing the U.S. economy remains resilient.
In contrast, the Chinese yuan fell to its weakest level since 2007 amid concern about China's slowing economy.
Strong U.S.
economic data this week have left some investors worried that even if the Federal Reserve leaves rates unchanged this month, they could remain high for longer than anticipated.
The U.S. Consumer Price Index reading for August is due next week.
«The dollar has been higher on the back of obviously stronger U.S.
data ..., suggesting that the Fed perhaps has another rate hike before the end of the year,» said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.
Wall Street's three major stock indexes rose on Friday, helped by a gain in Apple, which had fallen in the last two sessions on news reports of China curbing iPhone use by state employees. Apple was last up 1.2%
The Dow Jones Industrial Average rose 115.16 points, or 0.33%, to 34,615.89, the S&P 500 gained 19.97 points, or 0.45%, at 4,471.11 and the Nasdaq Composite added 80.11 points, or 0.58%, at 13,828.94.
The pan-European STOXX 600 index was up 0.2%, breaking a seven-day string of losses, while MSCI's gauge of stocks across the globe gained 0.24%.
Dollar gains have also prompted a step up in rhetoric from Japanese policymakers growing uncomfortable with the yen's slide.
Japan's top currency diplomat Masato Kanda said this week authorities will not rule out any option to clamp down on «speculative» moves, while
