Xinhua, New York :
The US dollar extended its gains Friday as optimistic U.S. economic data strengthened market speculations that the Federal Reserve may raise interest rates earlier than expected.
The dollar index, which tracks the greenback against a basket of major currencies, was up 0.4 percent to a four-year high of 85. 521 in late trading.
The greenback advanced to its 11th consecutive weekly gain on positive signs that the U.S. economy is gaining momentum. The U.S. Commerce Department on Friday raised its estimate for the growth of gross domestic product in the second quarter to 4.6 percent, much higher than a contraction of 2.1 percent in the first quarter.
Meanwhile, the final reading of the consumer sentiment index in September edged up to 84.6 from 82.5 in August, the Thomson Reuters/University of Michigan said Friday. The figure, the highest in fifteen months, is largely in line with economists’ expectation of 84.7.
