The USD retreated on Friday after hitting yearly highs near 106.60.
The market has responded to Fed Chair Powell's comments with odds of a December cut falling to 60%.
Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations.
The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, failed to secure a sixth consecutive day of gains in a volatile trading Friday. Federal Reserve (Fed) Chair Jerome Powell has instilled uncertainty in the markets by expressing reservations about a December interest rate cut, while markets assess fresh Retail Sales data.
The US Dollar Index retreated slightly after reaching its highest point of the year. However, DXY remains in an uptrend, bolstered by cautious Fed rhetoric and strong economic data, which gives the Greenback an advantage over its peers.
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