The
dollar dropped to its lowest level in four weeks against the yen as
retail sales in the U.S. slumped in December by the most in almost a
year, pushing back the timeline for the Federal Reserve to raise
interest rates.
Japan™s
currency rose against most of its major peers as investors sought haven
assets on concern steep declines in stocks and commodities signal the
global economy is slowing. Government-bond yields tumbled globally.
Russia™s ruble dropped for a fourth day. Brazil™s real rose as retail
sales topped forecasts. Traders now expect the first Fed interest-rate
increase to come in December.
The
yen appreciated 0.8 percent to 117 per dollar at 1:18 p.m. New York
time, after being at 116.07, the strongest since Dec. 16. It climbed 0.7
percent to 137.88 per euro, extending its advance to a fifth day, the
longest streak since June. The euro added 0.1 percent to $1.1784 after
it touched $1.1727, the least since December 2005.
The
Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10
major peers, dropped 0.2 percent to 1,141.12. It closed at 1,147.54 on
Jan. 8, the highest in data going back to 2004.
Source: Bloomberg
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