Dollar Holds Its Ground as Selloff Drags Down Aussie, Bitcoin

Dollar Holds Its Ground as Selloff Drags Down Aussie, Bitcoin
A U.S. dollar banknote is seen in this illustration taken on May 26, 2020. Dado Ruvic/Illustration/Reuters
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LONDON—The dollar was on track for its best week in a month against major rivals on Friday, as the world’s reserve currency held its ground amid a selloff of riskier assets across markets.

Investor sentiment has soured in recent days due to weaker economic data, rampant inflation and concerns over the pace of U.S. Federal Reserve policy tightening.