MW: Dollar extends loss after spending, income data
NEW YORK (MarketWatch) -- The dollar extended losses against major counterparts Friday after a U.S. government report said personal spending rose less than expected and income rose more than predicted in May. The dollar index (DXY 79.73, -0.67, -0.84%) , a measure of the greenback against a trade-weighted basket of currencies, traded at 79.728, down from 80.394 late Thursday. Consumer spending rose 0.3% in May, while analysts expected a 0.4% gain. Personal incomes jumped 1.4%, much more than the 0.5% anticipated, due to stimulus checks. The dollar was under pressure earlier after China's central bank reiterated a veiled call to lessen the U.S. unit's role as the world's reserve currency.
