Dollar lower versus yen after U.S. weak retail sales
Friday, 15 February 2019 08:10 WIB |
CURRENCIES |DOLLARDolar AS
The dollar weakened against the yen on Friday as dismal U.S. retail sales data reinforced expectations Federal Reserve rates will not rise this year, while investor focus shifted to trade talks between Washington and Beijing.
Retail sales posted their largest decline since September 2009, U.S. data showed on Thursday, a sign of weakness in the consumer sector, which accounts for more than two-thirds of the economy.
The dollar lost about 0.5 percent against the safe-haven yen in the overnight session and was relatively unchanged in early Asian trade. The yen rose marginally versus the euro to 124.67, having gained around 0.2 percent on Thursday.
The Aussie and New Zealand dollars pared earlier gains, losing 0.2 percent to $0.7091 and $0.6819, respectively.
The dollar index, a gauge of its strength versus six major peers was relatively unchanged at 97.01, after weakening by 0.12 percent in the previous session.
The main focus for the Asian market on Friday remains the outcome of the high level trade talks between U.S. and China this week.
Elsewhere, sterling was down 0.1 percent at $1.2800. Traders expect the pound to remain volatile in the coming weeks.