The
dollar rose to the highest in a week versus the yen before a report
today forecast to show U.S. retail sales increased for a third month.
The
greenback traded near the strongest in a month against the euro as
improving U.S. economic data bolstered the case for the Federal Reserve
to continue tapering stimulus, moving closer to the first interest-rate
increase since 2006. A gauge of U.S. dollar strength headed for its
highest close this month. Australia��s dollar was near a four-week high
before the release of the annual budget today and Chinese data on retail
sales and industrial production.
The
dollar bought 102.19 yen as of 9:47 a.m. in Tokyo from 102.13
yesterday, after earlier touching 102.23, the most since May 5. It was
little changed at $1.3765 per euro, after reaching $1.3745 on May 9, the
strongest since April 8. The single currency traded at 140.67 yen from
140.50 in New York.
The
Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10
major peers, was at 1,008.15, after closing at the highest this month at
1,008.35 yesterday.
U.S.
retail sales probably increased 0.4 percent in April, according to the
median estimate of economists polled by Bloomberg News. They grew 1.2
percent in March, which was the most since August 2012.
Source : Bloomberg
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