US Retail Sales Data Helps Dollar Index Lift Above 104 Mark

Published on Nov 16, 2023 11:39

The dollar index lifted marginally higher on Thursday, extending overnight gains after a notable fall below 104 mark on Tuesday as the U.S. consumer price index (CPI) for October showed inflation pressures easing more than expected, raising market speculation about a less aggressive Federal Reserve stance on interest rates. Slump in treasury yields below 4.6% mark drove dollar further down. However, slightly better than expected US retail sales data helped the greenback edge higher to 104.44 in today�s Asian trades. The Commerce Department said retail sales slipped by 0.1 percent in October as against expectation of 0.3 percent fall and after advancing by an upwardly revised 0.9 percent in September. Among the basket currencies, EURUSD is trading lower by 0.12% at $1.0847 whereas GBPUSD faltered by over 0.2% to quote at $1.2393.