For the second straight day on Tuesday the dollar climbed against a basket of major currencies as the investors were prompted by positive U.S. economic data to return to the theme that the U.S. will be at the forefront of a global economic recovery.
With it U.S. interest rates will be pushed and U.S. assets would become more attractive, that will boost the demand for the dollars to buy them.
Sales at U.S. retailers rose
According to data on Tuesday as government-sponsored auto incentives buoyed demand for motor vehicles, sales at U.S. retailers rose at their fastest pace in three-and-half years in August , it has also showed that sales outside the auto sector also were strong.
A government report showed on Tuesday that U.S. producer prices rose more than twice as much as what was expected in August on the biggest surge in gasoline prices that was ever recorded in more than 10 years and compared with a year ago, prices declined less than expected.
