Dollar Gains as Increase in Retail Sales Boosts Fed-Taper Bets
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The dollar gained versus major peers after retail sales rose in July for a fourth month and Federal Reserve Bank of Atlanta President Dennis Lockhart said policy makers may start to slow asset buying as soon as September.
The yen slid the most in nine weeks against the euro after a newspaper report said the Japanese government is weighing a corporate-tax cut. Sweden’s krona strengthened versus the majority its 16 most-active peers after consumer prices unexpectedly increased. The Fed has been buying $85 billion of Treasuries and mortgage debt each month to put downward pressure on borrowing costs, which tends to devalue the dollar.