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Dollar steadies as U.S. spending points to rate hikes

Mount Equity Group Tokyo Japan > News > Markets > Dollar steadies as U.S. spending points to rate hikes

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The dollar caught its footing on Thursday as strong U.S. retail data cast doubt on market bets that inflation is in retreat and U.S. interest rates need not rise too much further.

The euro was also firm after NATO said a missile that crashed inside Poland was probably a stray fired by Ukraine’s air defenses, and not a Russian strike.

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At $1.0394, the euro was close to breaking above its 200-day moving average. The Australian and New Zealand dollars fell slightly overnight, in response to the U.S. data, and were steady in morning trade on Thursday.

The Aussie last bought $0.6742 and the kiwi $0.6152. The Japanese yen hovered at 139.25 per dollar, while the Chinese yuan nursed losses at 7.1033 per dollar after China’s central bank promised to keep local liquidity ample and to guide…

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