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December U.S. Economic Data Remain Weak – Dollar Rises Anyway

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.

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