The dollar came back to life versus major rivals Thursday, rebounding near recent 7-year highs after strong U.S. retail sales data. In a report that will likely lift economic growth forecasts for the fourth quarter, U.S. retail sales in November expanded at the fastest pace in eight months, rising 0.7 percent. Economists were looking for
The dollar weakened Tuesday, easing from seven-year highs on speculation that recent gains were overdone. Although the Federal Reserve is widely expected to raise interest rates ahead of schedule in the first half of 2015, policy makers may go slow with subsequent rate hikes given the fragility of the global economy. Yesterday, data showed Chinese
The dollar rallied versus European rival Friday after European Central Bank President Mario Draghi said policy makers are ready with unprecedented measures if inflation does not pick up. It is feared that the euro zone will enter a dangerous deflationary spiral unless the ECB embarks on full-scale quantitative easing via asset purchases. “If … our
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
The dollar was mixed Wednesday, rising sharply against the sterling amid speculation the Bank of England’s warning on deflationary risks will keep U.K. interests low for an extended period. The BoE warned that U.K. price growth is likely to fall below 1 percent over the next six months. This is well below the BoE’s 2
