© Reuters. FILE PHOTO: An illustrative photo showing $100 banknotes is taken in Tokyo on August 2, 2011. REUTERS/Yuriko Nakao
By Gertrude Chavez-Dreyfus
NEW YORK (Reuters) – The U.S. dollar drifted higher on Tuesday after data showed retail sales in April were lower than expected, but the underlying trend remained resilient.
The last slight rise today was at 102.43. Against the yen, the dollar also rose modestly at 136.155 yen
US retail sales rose less-than-expected in April, although the underlying trend remained strong, suggesting that consumer spending remained solid early in the second quarter.
“It was a rebound after two weak months, which indicates that consumer spending is still holding up,” said Vasily Serebryakov, forex strategist at UBS Bank.
“Consumer spending has been the strongest component of the economy right now. We’ve seen business confidence indicators much weaker than consumer indicators and this report aligns with that.”
Despite this, currency investors remained jittery amid a slew of risk events, including a crucial meeting between US President Joe Biden and Republican House Speaker Kevin McCarthy just over two weeks ago before the US government ran out of cash to pay it. Invoices.
“Maybe there will be some potential news about the debt ceiling today. Chances are that this will be paid close to the deadline, which is early next month,” Serebryakov said.
“So the market should remain in a range. I don’t really see any directional drive here.”
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Coin offer prices at 9:30 am (1330 GMT)
Description RIC Last US Close Pct Change YTD Pct High Bid Low Bid
previous change
a class
Dollar Index 102.4200 102.4300 +0.01% -1.034% +102.5700 +102.1900
EUR/USD 1.0875 USD 1.0874 + 0.01% + 1.49% + 1.0905 USD + 1.0863 USD
USD/JPY 136.1900 136.0950 +0.08% +3.88% +136.2250 +135.6800
EUR/JPY 148.11 148.01 +0.07% +5.57% +148.2400 +147.6200
USD/CHF 0.8953 0.8956 -0.03% -3.17% +0.8962 +0.8920
GBP/USD $1.2505 $1.2531 -0.20% + 3.42% + $1.2546 + $1.2466
USD/CAD 1.3417 1.3466 -0.36% -0.97% +1.3493 +1.3410
AUD/USD 0.6677 USD 0.6700 -0.35% -2.05% + 0.6710 USD + 0.6666 USD
EUR/CHF 0.9737 0.9739 -0.02% -1.60% +0.9742 +0.9720
EUR/GBP 0.8694 0.8678 +0.18% -1.70% +0.8718 +0.8680
0.6240 NZD 0.6243 USD -0.04% -1.72% + 0.6260 NZD + 0.6228 USD
dollars / dollars
Dollar / Norway 10.6610 10.6000 +0.71% +8.77% +10.6720 +10.5930
Euro / Norway 11.5903 11.5214 +0.60% +10.45% +11.6190 +11.5195
Dollar / Sweden 10.3779 10.3480 +0.33% -0.29% +10.3837 +10.3188
Euro / Sweden 11.2822 11.2454 +0.33% +1.19% +11.2944 +11.2411