The dollar index climbed to its highest level in a week on Friday after encouraging retail sales data for May eased fears that the U.S. economy is slowing sharply, ahead of the Federal Reserve’s meeting next week. The Commerce Department said on Friday retail sales rose 0.5% last month, just slightly below economists’ expectations of a 0.6% gain. Data for April was revised up to show retail sales gaining 0.3%, instead of dropping 0.2% as previously reported. The dollar has recovered in the last week from a weak start to June, as investors consider whether rate cut expectations have gotten too far-fetched relative to ... (full story)