Dollar still near 4-month peaks

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    NEW YORK- The dollar was roughly flat against major currencies, but still near four-month peaks, on continued optimism about the US economy, and came close to surpassing a 10-month high against the Japanese yen.

    Against a basket of six major currencies, the greenback stood at 92.7200, on track to close out the week with a gain of about 0.7 percent. It was shrugging off data showing that consumer spending recently fell.

    The dollar-yen also rose as high as 109.80, roughly the highest since June. Late on Friday, it was at 109.6400.

    “The dollar has gotten a second wind,” said Minh Trang, senior foreign exchange trader at Silicon Valley Bank, adding that the upward trend in the greenback “will come in spurts as bull markets do.”

    Yields on US Treasuries rose but held below one-year highs reached last week.

    US jobless claims fell to a one-year low last week and President Joe Biden said he would double his vaccination plan after reaching his previous goal of 100 million shots 42 days ahead of schedule, both of which support optimism about the dollar.

    The euro managed to claw back ground from Thursday’s four-month low, though the common currency is still bruised by doubts over the slow pace of vaccinations and rising infections.