Dollar gains strength

Dollar gains strength as market seeks safety net

Data released Friday showed the U.S. consumer–considered key to an economic turnaround–remained stressed. The University of Michigan/Reuters consumer sentiment index’s preliminary reading for January edged up to only 72.8 from the final December reading of 72.5. Economists had expected sentiment to improve to 74.0.

Positive Beige Book uplifts mood, markets

Economic conditions have seen modest further improvement in recent weeks, according to the Federal Reserve’s Beige Book report released Wednesday afternoon, although the central bank noted that economic activity remains at a low level.

Gold rises as dollar stumbles

Gold rises as dollar stumbles in global market

Gold futures remain sharply higher after hitting their highest level in a month Monday due to the U.S. dollar’s lowest level against the euro in three weeks, as signs of improved Chinese oil demand and comments from a Federal Reserve official that U.S. interest rates would stay low pressured the dollar.

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