Dollar Advances Against Peers as U.S. Sales Rise; Aussie Slides
This article is for subscribers only.
The dollar gained versus most of its major counterparts after a report showed U.S. retail sales unexpectedly increased in April, bolstering optimism in the world’s largest economy.
The euro fell for a third day versus the greenback before data this week forecast to show the currency bloc’s economy shrank for a sixth quarter. The shared currency advanced versus the yen. The dollar rose to the highest level since 2008 versus the yen amid bets the Federal Reserve will start to taper its monthly bond buying under its quantitative-easing stimulus. Australia’s dollar slid amid a drop in business confidence.