Investing.com - The dollar was higher against the yen and the euro on Monday after official data showed that U.S. retail sales rose unexpectedly in April.
During European afternoon trade, the dollar was hovering close to four-and-a- half year highs against the yen, with USD/JPY rising 0.18% to 101.79, after climbing as high as 102.16 earlier Monday.
The Commerce Department said U.S. retail sales rose 0.1% in April, confounding expectations for a 0.3% decline. The previous months figure was revised down to 0.5% for 0.4%.
Core retail sales, which exclude automobile sales, fell by 0.1% last month, in line with expectations.
The yen hit session lows against the dollar after a weekend meeting of finance ministers from the Group of Seven industrialized economies refrained from criticizing Japan over policies which have resulted in a weaker yen.
The dollar was trading close to one-month lows against the euro, with EUR/USD dipping 0.04% to 1.2983.
The single currency remained under pressure after a member of the European Central Bank’s governing council said the bank could cut its deposit rate into negative territory. The deposit rate is the rate paid by the ECB on overnight deposits by euro zone banks.
The pound was almost unchanged against the dollar, with GBP/USD dipping 0.02% to 1.5360.
The dollar was lower against the Swiss franc with USD/CHF sliding 0.21% to 0.9551.
Retail sales in Switzerland fell 0.9% in March compared to a year earlier, official data on Monday showed, confounding expectations for a 0.8% increase.
The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD down 0.30% to 0.9989, NZD/USD losing 0.22% to trade at 0.8283 and USD/CAD falling 0.19% to 1.0086.
The Aussie fell below parity against the greenback to trade at 11-month lows after official data showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.05% to 83.22.
During European afternoon trade, the dollar was hovering close to four-and-a- half year highs against the yen, with USD/JPY rising 0.18% to 101.79, after climbing as high as 102.16 earlier Monday.
The Commerce Department said U.S. retail sales rose 0.1% in April, confounding expectations for a 0.3% decline. The previous months figure was revised down to 0.5% for 0.4%.
Core retail sales, which exclude automobile sales, fell by 0.1% last month, in line with expectations.
The yen hit session lows against the dollar after a weekend meeting of finance ministers from the Group of Seven industrialized economies refrained from criticizing Japan over policies which have resulted in a weaker yen.
The dollar was trading close to one-month lows against the euro, with EUR/USD dipping 0.04% to 1.2983.
The single currency remained under pressure after a member of the European Central Bank’s governing council said the bank could cut its deposit rate into negative territory. The deposit rate is the rate paid by the ECB on overnight deposits by euro zone banks.
The pound was almost unchanged against the dollar, with GBP/USD dipping 0.02% to 1.5360.
The dollar was lower against the Swiss franc with USD/CHF sliding 0.21% to 0.9551.
Retail sales in Switzerland fell 0.9% in March compared to a year earlier, official data on Monday showed, confounding expectations for a 0.8% increase.
The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD down 0.30% to 0.9989, NZD/USD losing 0.22% to trade at 0.8283 and USD/CAD falling 0.19% to 1.0086.
The Aussie fell below parity against the greenback to trade at 11-month lows after official data showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.05% to 83.22.