Dollar edges higher after US retail sales; debt ceiling in focus By Reuters


© 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

ceilingDebtDollaredgesFocusHigherretailReutersSales
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