US dollar recovers as markets in consolidation mode; pares gains after data
yen as investors consolidated positions ahead of the weekend, looked to more inflation data next week, and kept an eye on tariff headlines.
«It's a bit of consolidation ahead of the weekend. The moves lack conviction and this is still position-squaring,» said Marc Chandler, chief market strategist, at Bannockburn Global Forex in New York.
«To me, the dollar peaked the week before the Trump inauguration. This is just a continuation of that correction.»
The greenback, however pared gains after S&P Global data on Friday showing U.S. business activity dropped to a 17-month low
this month. It fell further after declines seen in the University of Michigan sentiment report and U.S. existing home sales data.
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