The Magazine for Asian Investors
The U.S. dollar rose against other major currencies on Friday (Jan. 14), recovering after three consecutive days of declines.
- The dollar index against the six major currencies in a basket of currencies rose 0.39% to 95.1673.
- The dollar strengthened against the yen at 114.14 yen from 114.06 yen.
- The US dollar strengthened against the Swiss franc at 0.9137 francs from 0.9107 francs.
- The dollar was higher against the Canadian dollar at 1.2560 Canadian dollars from 1.2488 Canadian dollars.
- The euro was lower against the dollar at $1.1415 from $1.1460.
- The pound fell to $1.3676 from $1.3718.
- The Australian dollar was lower to $0.720 from $0.7288.
The dollar recovered after the dollar index fell 1.24% in the last three days on strong selling, although the U.S. released weak economic data on Friday. The Commerce Department said that retail sales fell 1.9% in December, while core retail sales (excluding autos, oil, building materials, and food) fell 3.1% in December.
A University of Michigan survey showed that the U.S. consumer confidence index fell to 68.8 in January, its second-lowest level in a decade, from 70.6 in December, while overall industrial production declined 0.1% in December.
New York currency markets will be closed on Monday, Jan. 17, in observance of Martin Luther King Jr. Day.