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Dollar Stands Tall on Stronger U.S. Data, Hits Fresh Eight Month-High vs Yen


Friday, 17 January 2020 08:31 WIB

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The dollar gained on Friday as U.S. data suggested the world’s largest economy maintained a moderate growth pace at the end of 2019, reaching an eight-month peak against the safe-haven yen.

U.S. retail sales increased for a third straight month in December and the number of Americans filing claims for unemployment benefits dropped for a fifth straight week last week, indicating the labour market remained strong.

The dollar rose to as high as 110.24 yen versus the Japanese currency, its highest level since late May in 2019.

The dollar index, which tracks the greenback’s strength against a basket of six major currencies, last stood at 97.308, up 0.1% on the day. The euro barely moved at $1.1137.

The Australian dollar gained to as high as $0.69335, its 1-1/2-week high of $0.6897 overnight and was last traded at $0.6897.

Source : Reuters


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