The British pound was under pressure, down 0.5% at $1,257, after British retail sales fell more than expected in October, and PMI data showed British business output contracted for the first time in more than a year.
Further signs of slowing economic growth may prompt the Bank of England to ease its monetary stance.
The index, which tracks the dollar against six major currencies, was up 0.43% at 107.5, its highest level since November 2022.
The index rose sharply this month on expectations that President-elect Donald Trump’s policies may reignite inflation and limit the Federal Reserve’s ability to cut interest rates, keeping other currencies under pressure.
Trump floated the idea of appointing Kevin Warsh as Treasury secretary with the understanding that he might become Federal Reserve chairman later, the Wall Street Journal reported Thursday, citing people familiar with the matter.
