The
dollar touched the highest in almost a week versus the yen before a report
today that may show U.S. retail sales climbed for a fourth month.
The
Bloomberg U.S. Dollar Index advanced for a second day amid speculation stronger
data will bolster the case for the Federal Reserve to scale back its asset
purchases. The yen held declines against all of its 16 major counterparts after
Japan’s machine orders fell in June, spurring bets that the Bank of Japan will
step up stimulus measures. The euro strengthened versus most of its peers
before a report that may show German economic confidence is at a five-month
high.
The
dollar rose 0.5 percent to 97.43 yen as of 9:39 a.m. in Tokyo after earlier
touching 97.44, the strongest since Aug. 7. It was little changed at $1.3293
per euro. Japan’s currency slid 0.5 percent to 129.49 per euro.
The
Bloomberg U.S. Dollar Index added 0.2 percent to 1,022.74 after gaining 0.4
percent yesterday, its first advance in more than a week.
The
U.S. Commerce Department will probably say today retail sales climbed 0.3
percent last month after a 0.4 percent advance in June, according to the median
forecast of economists surveyed by Bloomberg News.
(Source: Bloomberg)
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