The US dollar traded higher against most of the major currencies on Friday thanks to better than expected economic data. Consumer spending rose 1.9% last month, more than two times the market’s estimate. Excluding autos, demand rose 1.5% compared to a 0.4% forecast. Despite high unemployment and less jobless benefits spending rose for the fifth month in a row. With clothing and accessories leading the gain, part of this increase can be attributed to delayed school re-openings. However the data also justifies the decisions by Governors to keep their economies open even as more than 20 states set records for new ... (full story)