Dollar rose in European trade on Friday against a basket of major rivals on track for the first profit in three days as markets avoid risks due to growing geopolitician tensions.
The gains come ahead of US producer prices data for December, which will provide important clues on the state of inflation and will inform future policies.
The Index
The dollar index rose 0.2% to 102.51, with a session-low at 102.17, after closing down 0.1% yesterday, the second loss in a row even as US consumer prices surpassed estimates in December.
Cleveland Fed President Loretta Mister said that recent inflation data shows it's too early to cut interest rates in March.
Richmond Fed President Thomas Parkin said that consumer prices data didn't do much to clear up the path of inflation, as the December hike in prices was focused on commodities.
Now investors await US producer prices data for December to gather more clues about the likely path ahead for US monetary policy and interest rates.
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