The dollar index slipped to 97.85 after US retail sales rose in July, easing fears of weaker consumer spending. Sales climbed 0.5%, boosted by cars and online promotions, following a 0.9% gain in June. Excluding autos, sales were up 0.3%. Import prices rose 0.4%, defying flat forecasts, adding to concerns that inflation could pick up after Thursday’s sharp jump in producer prices. Attention now turns to Trump–Putin meeting in Alaska, where a Ukraine ceasefire remains uncertain, and to next week’s Jackson Hole symposium for Fed policy signals. The Fed faces a balancing act as tariff-driven inflation collides with signs of labor market softness. For the week, the dollar is down 0.3%, following a 1% drop in the previous period.