Dollar Grows Following Strong US Retail Sales
Dollar Grows Following Strong US Retail Sales

The dollar registered a gain against rivals Friday morning after stronger U. S. economic data triggered bets that the Federal Reserve will toughen monetary policy sooner than anticipated.

The greenback led to intraday high against the yen, trading close to the Y91 level, and pared overnight losses against the euro after U. S. retail sales in February unexpectedly climbed.

"At this point, the better data you see sets the stage for more policy normalization whether that's an interest rate hike or at least more steps from the Fed, taking stimulus measures away," revealed Brian Kim, a currency strategist at UBS AG in Stamford, Conn.

Friday morning in New York, the euro registered a price of $1.3756 from $1.3679 late Thursday, as per EBS via CQG.

However, the dollar landed at Y90.95 from Y90.56, while the euro was at Y125.12 from Y123.86. The U. K. pound was at $1.5152 from $1.5063. The dollar was at CHF1.0603 from CHF1.0688.

Retail sales last month marked a rise by 0.3%, the Commerce Department posted Friday. With the Super Bowl early in the month, electronic store sales reported a rise; compared to the forecast of 0.3% decrease by the economists surveyed by Dow Jones Newswires.

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