The greenback closed the previous week in the positive territory. By the end of the last week, the US dollar index recouped losses of the preceding weeks and managed to climb to 95.20. The greenback purchases were triggered by increased expectations of at least 2 more interest rate hikes by the Federal Reserves this year. According to the growth rate, the US economy is ready for monetary tightening. However, the report from the University of Michigan released on Friday raised some doubts that the US economy will withstand tightening of the monetary course.
According to the preliminary data, the consumer sentiment indicator dropped to the lowest mark in 6 months. The index fell to 97.1 from 98.1. Nevertheless, the FOMC meeting minutes kept greenback bulls in the market. The report contained the details of measurers taken to sustain fincanial stability amid expectations of the balance sheet reduction and a rate hike. All in all, traders were leaving for the weekend on an upbeat note. The US dollar bulls are waiting for the retail sales data release today to open new buy deals.