U.S. dollar rises amid upbeat retail sales data
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E-mail Xinhua, July 17, 2019
NEW YORK, July 16 (Xinhua) -- The U.S. dollar appreciated against its major rivals in late trading on Tuesday as market participants cheered the better-than-anticipated retail sales data.
U.S. retail and food services sales increased 0.4 percent in June from the previous month, reaching 519.9 billion U.S. dollars, the Department of Commerce reported Tuesday. Economists polled by MarketWatch expected a 0.1 percent gain.
"June retail sales were much stronger than expected despite modest revisions...The result is a blockbuster retail quarter following the lackluster first quarter," Chris Low, chief economist at FTN Financial, said in a note.
The dollar index, which measures the greenback against six major peers, rose 0.48 percent at 97.4012 in late trading.
In late New York trading, the euro was down to 1.1205 dollars from 1.1259 dollars in the previous session, and the British pound fell to 1.2406 dollars from 1.2518 U.S. dollars in the previous session. The Australian dollar decreased to 0.7013 dollar from 0.7037 dollar.
The U.S. dollar bought 108.34 Japanese yen, higher than 107.89 Japanese yen of the previous session. The U.S. dollar rose to 0.9886 Swiss franc from 0.9849 Swiss franc, and it was up to 1.3068 Canadian dollars from 1.3046 Canadian dollars. Enditem
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