The dollar weakened against the euro Friday, trimming its dramatic recent gains on renewed hopes the euro zone can avoid a triple-dip recession.
The German economy recovered at a moderate pace avoiding a recession in the third quarter, while France rebounded at the fastest rate in a year, preliminary results showed.
Greece emerged from its austerity-induced coma, as the debt-ridden nation’s economy expanded year-to-date.
All told, the euro zone as a whole to grew by 0.2 percent in the quarter, and the relatively upbeat data could give the European Central Bank time to delay further stimulus.
The dollar fell sharply against the euro on the news, slipping to $1.2550 from a recent 26-month low near $1.2350.
Meanwhile, the dollar held near its 7-year peak against the yen, inching above Y116 in choppy trading.
The buck jumped to a fresh yearly high of $1.5590 versus the sterling before sinking back to $1.57.
U.S. retail sales rebounded in October, up a seasonally adjusted 0.3 percent last month , the Commerce Department said Friday. Economists had forecast a 0.2 percent gain.
Consumer sentiment in the U.S. has improved by much more than anticipated in the month of November, according to a report released by Thomson Reuters and the University of Michigan on Friday.
The report showed that the preliminary reading on the consumer sentiment index for November came in at 89.4 compared to the final October reading of 86.9. Economists had expected the index to show a more modest increase to 87.5.
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