Investing.com - The U.S. Dollar traded higher against most of its major rivals during Friday’s Asian session despite increased hopes that the Federal Reserve will keep in place its quantitative easing program following the U.S. government shutdown.
In Asian trading Friday, EUR/USD fell 0.10% to 1.3663.
GBP/USD lost 0.10% to 1.6148. On Thursday, Office for National Statistics said U.K. retail sales rose 0.6% in September from a month earlier, compared to expectations for a 0.4% increase and were 2.2% higher on a year-over-year basis.
USD/JPY advanced 0.19% to 98.11 as traders appear to be departing the yen as a safe-haven amid moderately higher risk appetite.
The Fed’s plans for quantitative easing have raced back to the forefront. The U.S. government was closed for more than two weeks, fourth-quarter economic output will be hampered with no means for the world’s largest economy to recapture that lost growth.
The Fed has previously pledged to keep its easing program in place until the U.S. economy shows sufficient strength. The central has also said its time line for tapering is not tied to a calendar, but rather economic data.
USD/CHF rose 0.12% to 0.9036 while USD/CAD inched up 0.04% to 1.0299.
In U.S. economic news out Thursday, the Labor Department said the number of individuals filing for initial jobless benefits last week declined by 15,000 to a seasonally adjusted 358,000 from a downwardly revised 373,000 in the preceding week.
Analysts had expected U.S. jobless claims to decline to 335,000 last week. A separate report showed that the Philly Fed manufacturing index ticked down to 19.8 from 22.3 in September, but came in above expectations for a reading of 15.0.
AUD/USD lost 0.23% to 0.9613 ahead of China’s third-quarter GDP report. NZD/USD lost 0.29% to 0.8462. The U.S. Dollar Index rose 0.10% to 79.81.
In Asian trading Friday, EUR/USD fell 0.10% to 1.3663.
GBP/USD lost 0.10% to 1.6148. On Thursday, Office for National Statistics said U.K. retail sales rose 0.6% in September from a month earlier, compared to expectations for a 0.4% increase and were 2.2% higher on a year-over-year basis.
USD/JPY advanced 0.19% to 98.11 as traders appear to be departing the yen as a safe-haven amid moderately higher risk appetite.
The Fed’s plans for quantitative easing have raced back to the forefront. The U.S. government was closed for more than two weeks, fourth-quarter economic output will be hampered with no means for the world’s largest economy to recapture that lost growth.
The Fed has previously pledged to keep its easing program in place until the U.S. economy shows sufficient strength. The central has also said its time line for tapering is not tied to a calendar, but rather economic data.
USD/CHF rose 0.12% to 0.9036 while USD/CAD inched up 0.04% to 1.0299.
In U.S. economic news out Thursday, the Labor Department said the number of individuals filing for initial jobless benefits last week declined by 15,000 to a seasonally adjusted 358,000 from a downwardly revised 373,000 in the preceding week.
Analysts had expected U.S. jobless claims to decline to 335,000 last week. A separate report showed that the Philly Fed manufacturing index ticked down to 19.8 from 22.3 in September, but came in above expectations for a reading of 15.0.
AUD/USD lost 0.23% to 0.9613 ahead of China’s third-quarter GDP report. NZD/USD lost 0.29% to 0.8462. The U.S. Dollar Index rose 0.10% to 79.81.