The dollar climbed to a two-week peak against the euro and a one-week high against the yen on Wednesday, as gains in global stock markets and improved export numbers out of China drew investors into riskier bets than low-yielding currencies in Europe and Japan.
The euro and yen have gained strongly against the dollar in recent weeks as investors sought traditional safe havens given a darkening outlook for banks and economic growth, underlined again by downgraded forecasts from the International Monetary on Tuesday.
Softer-than-expected U.S. producer prices and retail sales numbers last month briefly pushed the dollar lower, but Wednesday's dollar uptrend remained intact.
"The weak retail sales and PPI (producer price index) data had virtually no impact on the dollar, and it's probably because there are portfolio flows going into U.S. equities," said Sebastien Galy, currency strategist at Deutsche Bank in New York. "This is giving the dollar a bit of a bid."