On Friday, the dollar reaches its strongest levels in a month versus many of its widely traded rivals, as better-than-expected U.S. economic data has supported anticipations that the key U.S. rates could rise sooner than expected.
Major Currencies
Mid-morning in New York, according to EBS via CQG the euro was at $1.4621 from $1.4729 late Thursday. The dollar was recorded at Y89.63 from Y88.21, while the euro was at Y131.09 from Y129.97. The British pound was at $1.6230 from $1.6267. Whereas the dollar was at CHF1.0348 from CHF1.0263.
Dollar Index
The Dollar Index, was at 76.591 from 76.011. This index tracks the greenback against a trade-weighted basket of currencies. Since early November the index is at its highest levels, showing the dollar’s broad strength against its rivals.
Increase in Reuters/University of Michigan consumer sentiment index
There has been an increase in the Reuters/University of Michigan consumer sentiment index for mid-December. It has increased from a 67.4 reading in November to a current value of 73.4.
Gain in US Retail Sales
Earlier, in November U.S. retail sales has reported a gain of 1.3%. It had been expected that the sales would increase to 0.7%.
Rise in US business inventories
Also, a rise of 0.2% has been recorded in U.S. business inventories for October. While analysts had expected that the inventories would register a decrease of 0.2%.
Rise in US Treasuries have also supported the US Dollar.
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