Euro drops to two-week low against the dollar [CNBC]
BANK OF CHINA UNSP/ADR (BACHY)
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Source: CNBC
Euro drops to two-week low against the dollar The U.S. dollar has regained some strength in recent weeks. Getty Images The euro fell to a two-week low on Friday against the dollar, which extended the gains it made the day before after U.S. retail sales data came out better than expected. The dollar was on course to end the week up against the euro, the Japanese yen and the Swiss franc as investors returned to riskier assets. A stable offshore Chinese yuan helped improve risk appetite. Measured against a basket of six major currencies, the Data showing U.S. consumers kept spending in July came as a relief after the U.S. Treasury yield curve inverted this week, which historically has preceded U.S. recessions. The inversion stoked worries about the impact of the Sino-U.S. trade war. The curve steepened a little on Friday. China on Thursday said it would retaliate for the latest U.S. tariffs on $300 billion of Chinese goods, but U.S. President Donald Trump said any pact would have to be o
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