USD up on strong economic news

Story link: USD up on strong economic news

The US dollar was up in relation to a wide variety of currencies in mid-day trading in New York.

Strong retail sales figures added to earlier good news on trade and employment to put the dollar in its strongest position in weeks or months to some currencies.

The dollar was at a six-month high against the euro, rising 0.8 percent to $1.2706. The dollar reached a six-week high against sterling as it was up 0.3 percent to $1.8658.

It also reached a three-week high in relation to the yen at ¥106.68, an advance of 0.9 percent. In addition, the US dollar was up 0.9 percent against the Australian dollar, to $0.7664.

Elsewhere, the South African rand fell in relation to the US dollar after a statement by the deputy governor of the South African Reserve Bank called the rand’s recent strength “unhelpful.“ The rand fell 1.4 percent to R6.2692 against the dollar.

Also, the New Zealand dollar fell 1.5 percent in relation to the US dollar on the news that the unemployment rate there had risen unexpectedly.