LONDON—The dollar hovered around a two-month high on Friday, 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 (PBOC) set a much-stronger-than-expected daily fixing, lifting the yuan from a 9-month low hit on Thursday, while sterling fell after British retail sales weakened more than expected in July.
