The dollar surged to a seven-week high against the yen on Thursday, while the sterling and euro fell amid concerns about a slowing U.S. economy and potential Federal Reserve rate cuts.
Recent data showed tepid May retail sales and a weakening labor market, with jobless claims falling but still above expectations. The dollar hit its highest level since April 29 against the yen, up 0.51% at 158.89 yen.
The euro dropped 0.34% to $1.0708, and the sterling fell 0.42% to $1.2667 after the Bank of England left rates unchanged. The Swiss franc also declined after the Swiss National Bank cut interest rates to 1.25%.
The dollar index, which tracks the greenback against six peers, rose 0.4% to 105.61, heading for its fifth straight week of gains. Bitcoin increased by 0.4% to $65,105.
