{"id":112178,"date":"2021-04-15T15:01:35","date_gmt":"2021-04-15T15:01:35","guid":{"rendered":"https:\/\/fin2me.com\/?p=112178"},"modified":"2021-04-15T15:01:35","modified_gmt":"2021-04-15T15:01:35","slug":"dollar-edges-higher-on-strong-data-despite-lower-yields","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/dollar-edges-higher-on-strong-data-despite-lower-yields\/","title":{"rendered":"Dollar edges higher on strong data, despite lower yields"},"content":{"rendered":"<p>NEW YORK (Reuters) &#8211; The dollar index edged higher on Thursday in choppy trading as investors balanced bullish data showing U.S. retail sales rebounded sharply in March against a continued drop in U.S. Treasury yields.<\/p><figcaption>FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS\/Dado Ruvic\/Illustration<\/figcaption><p>Retail sales increased 9.8% last month, the Commerce Department said on Thursday, beating economists\u2019 expectations for a 5.9% increase.<\/p>\n<p>A separate report also showed that initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10, compared with 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.<\/p>\n<p>\u201cThis was a one-two punch of really positive data,\u201d said Edward Moya, senior market analyst at OANDA in New York.<\/p>\n<p>Dollar strength was capped, however, as Treasury yields dropped to one-month lows, reducing the relative attractiveness of the U.S. currency.<\/p>\n<p>The dollar index earlier on Thursday hit a one-month low of 91.487, before rebounding to 91.633, up 0.03% on the day.<\/p>\n<p>The euro fell 0.07% to $1.1971. The greenback fell 0.15% to 109.73 Japanese yen.<\/p>\n<p>The dollar has been on the back foot this month as Treasury yields stabilize below one-year highs reached last month. Yields have fallen as the U.S. Federal Reserve reiterates its commitment to holding rates near zero for years to come, and on some concerns that a recent uptick in inflation will be temporary.<\/p>\n<p>Strong risk appetite as stocks hit record highs is also seen as denting the appeal of the greenback.<\/p>\n<p>The Australian dollar, a proxy for global risk sentiment, rose 0.36% on Thursday to $0.7749.<\/p>\n<p>Rising geopolitical tensions may be helping demand for safe-haven U.S. bonds on Thursday.<\/p>\n<p>\u201cWe\u2019re seeing more risks across emerging markets right now, and that\u2019s probably going to keep some Treasury demand going,\u201d said Moya.<\/p>\n<p>The Russian rouble tumbled on Thursday, at one point losing 2% to the dollar in volatile trade and hitting a more than five-month low versus the euro as the White House announced new sanctions targeting Russia\u2019s sovereign debt.<\/p>\n<p>U.S. President Joe Biden on Thursday authorized the move to punish Moscow for interfering in the 2020 U.S. election &#8211; allegations Russia denies.<\/p>\n<p>Bitcoin stood near a record high of $64,895 reached on Wednesday, when cryptocurrency platform Coinbase made its debut in Nasdaq in a direct listing. It was last up 0.07% on the day at $63,028.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/global-forex\/forex-dollar-edges-higher-on-strong-data-despite-lower-yields-idUSL1N2M81N4\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) &#8211; The dollar index edged higher on Thursday in choppy trading as investors balanced bullish data showing U.S. retail sales rebounded sharply [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":112177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dollar edges higher on strong data, despite lower yields - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/dollar-edges-higher-on-strong-data-despite-lower-yields\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar edges higher on strong data, despite lower yields - Fin2me\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) &#8211; 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