China worries set safe-haven dollar for fifth straight week of gains

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Reuters UK

By Joice Alves and Kevin Buckland LONDON/TOKYO (Reuters) – The dollar eased on Friday, but was still set for a fifth consecutive week of gains in the longest winning streak for 15 months, buoyed by demand for safer assets on worries over China’s economy and bets U.S. interest rates will stay high. The People’s Bank of China set a much-stronger-than-expected daily fixing, lifting the yuan from a 9-month lows a day earlier, while sterling fell after British retail sales fell more than expected in July. Against the yuan, the dollar edged 0.1% higher at 7.3099 in offshore trading, after the centra…

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