Dollar jumps to 2-week high on strong data

US dollar rose against a basket of currencies today, to extend its gains for the 4th straight day to a 2-week high, on strong US retail sales data, in addition to the recovery of the US 10-year treasury bond yield, which have eased the US economy slowdown concerns. 

Dollar rose today by about 0.2% to 98.31 points, its highest level since August 2nd, from the opening of 98.13 points, with a high of 98.13.

The index rose by 0.2% yesterday, marking its third daily gain in a row, after the release of strong US retail sales data for July, which have rose by 0.7%, exceeding forecasts of 0.3%, and higher than the previous reading of 0.3%.

In addition to the 10-year Treasury yield rebounding to trade again above the 2-year Treasury yields, which has eased the US recession concerns.

Investors anticipate several US economic data later today, with the housing starts reading, in addition to consumer sentiment reading during August

The US building permits are expected to reach 1.27 million in July from 1.23 million in June, and the housing starts are expected to rise to 1.26 million from 1.25 million in the previous reading.

Additionally, the University of Michigan's preliminary reading of consumer sentiment during August is expected to be at 97.2, from 98.4 in July.