NEW YORK, July 15 (Reuters) – The dollar fell on Friday as investors evaluated how high the Federal Reserve is likely to raise interest rates by when it meets later this month and as investors took profits after a strong rally that sent the greenback to a two-decade high on Thursday.
The greenback has jumped as the Fed is expected to raise rates faster and further than peer central banks as inflation soars to four-decade highs.
The dollar briefly gained on Friday after data showed that U.S. retail sales increased more than expected in June. read more
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“It’s a little bit better than expected, but I think everyone realizes that probably that is due to inflation,” said Joseph Trevisani, senior analyst at FXStreet.com in New York. He added that investors are closing positions before the weekend, and after “a long, strong run in the dollar.”
Other data showed that…
