US Dollar closes a winning week, eyes on CPI data

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• The DXY index trades with mild losses at 105.80, closing a 0.70% weekly gain.
• Fed hawks revived USD strength during the week.
• UoM consumer sentiment data come in lower than expected.
• The focus shifts to next week’s inflation figure from the US from October.

The US Dollar (USD) showed minimal movement on Friday. The DXY index,  which measures the value of the US Dollar versus a basket of global currencies, stood with slight losses at 105.80 as bulls seem to be taking a hiatus. The Greenback strengthened after Federal Reserve (Fed) hawks hinted that there may be further tightening, which revived the US Treasury, allowing the Dollar to gain interest.