Dollar near 16-month high versus euro ahead of US retail sales data

Dollar near 16-month high versus euro ahead of US retail sales data ...

- The dollar reached its strongest in five months as the markets welcome talks between the US and the Chinese presidents. Earlier this year, the dollar fell slightly from a 16-month low versus the euro on Tuesday, while the yuan reached its strongest since 2005, as a foreign exchange leader confirmed talks between the United States and the Chinan presidents.

With many other issues, the world must appreciate the pressure the deal provides to the world, by keeping a close eye on the future, although the talks didn't seem to have much impact on the currency industry. read more about the yen-by-long summit.

The dollar was flat in the past two months against China's offshore yuan overnight at 6.3615; the pair is still at the lowest of 0.1%, at 850 GMT, at 6.3767.

The Australian dollar - seen as liquid proxy for risk appetite - had lost its overnight earnings by early European trading, down 0.1% on the day at $0.73425.

The dollar index hit 95.446 lower, a quarter higher since last year, a quarter higher than expected - in 16 months following the U.S. inflation data last week showed how consumer prices surged to their highest point since 1990, fuelling speculation the Federal Reserve could raise interest rates sooner than expected.

Investors have been waiting for retail sales data coming soon, which could influence the price outlook.

The euro was little changed on the day of change, with recent losses on Monday following dovish comments from Christine Lagardes president of the European Central Bank.

The spokesman said tightening monetary policy now to protect the nation's economy could cut off the collapse of the euro zone, implying that enforcing inflation was a mishap. read more, or more on the full read of more about the slatos.

The UniCredit strategists wrote in a client note that whether recent economic and retail data be generated today, the report says, "the cost of higher spending in America, including retail sales, and industrial production, is likely to change the scenario" remained favored."

Analysts said that rising COVID-19 cases in Europe hurting European currencies including the euro.

During this period, there has been the increase in infections in the United States. read more. Austria on Monday imposed a lockdown on unvaccinated people on Monday, while Germany's parliament is planning to approve some more strict measures on the issue of surging cases. France, the Netherlands and many countries in Eastern Europe see a surge in infections. Read more.

"The fear of the situation would escalate and cause a further tightening of restrictions in the coming months is hurting Euro currency sentiment," says the MUFG currency analyst Lee Hardman in a client note.

The British pound was up 0.4% in the comparison to the dollar at $1.3467, with figures showing a rise in the salary of more than 100 people in October after the government's job protection furlough scheme ended. read more about how 'the British pound' went up, where more people were hired after a restraining act was released.

Swedish crown rose a slightly higher amount than the dollar at 8.789. The Swedish headline inflation increased in October of 2008, in October.

It seems that the Riksbank will call its meeting in a client note the rise in inflation temporary, said I-Na Park-Heger, the chief economist from the Commerzbank, in a statement.

Other than that, the bitcoin currency fell around 4% on the day of the fall, at $60,750.


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