Dollar Gains to 7-Year High on Retail Sales, Consumers

The dollar rose, reaching a seven-year high versus the yen, as reports showing gains in retail sales and consumer confidence boosted optimism growth in the U.S. economy is gathering momentum.

The euro rose and the yen trimmed its weekly loss as U.S. Treasury yields fell before the Group of 20 summit meeting tomorrow. Brazil’s real fell to a nine-year low on allegations of corruption and money laundering at its state-run oil producer. Switzerland’s franc headed for a sixth weekly advance versus the euro and prompted speculation the nation’s central bank will intervene to defend its cap.