LONDON—The safe-haven U.S. dollar rose on Monday after a new batch of disappointing Chinese data bolstered global recession worries, while the yuan weakened following a surprise key rate cut by the People’s Bank of China.
Chinese industrial output, retail sales, and fixed-asset investment all fell short of analyst estimates in data published on Monday, as a nascent recovery from draconian COVID-19 lockdowns faltered.
“Of course, bad data from China also weighs on recession worries for the rest of the world,” said Ipek Ozkardeskaya, market strategist at Swissquote. That pushed down the euro against the greenback, she added.
The U.S. dollar index against six peers rose 0.6 percent to 106.3, consolidating near the middle of its range this month. The euro eased 0.6 percent against the dollar to $1.0191, after touching a one-week low….