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U.S. growth drives dollar to 11th winning week
The dollar posted an 11th straight week of gains against a basket of major currencies on Friday, extending the longest winning streak since its 1971 free float under President Richard Nixon. The dollar index got extra lift from upwardly revised U.S. gross domestic product data, adding 0.5 percent and hitting a fresh four-year peak of 85.655 even as strategists and traders predicted a pullback in the dollar rally. A week ago, the basket of six currencies ended at 84.375 and had been trading below 80 in early July. The euro, which has fallen sharply against the dollar since May as euro zone growth sputtered and U.S. ... (full story)
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