US Session – Dollar boosted by strong US Retail Sales
Posted on October 15, 2012 at 6:57 pm GMTDollar rose strongly against the yen following a better than expected US retail sales report. Data showed that September retail sales rose more than forecast by 1.1 percent and there was also an upward revision to spending in August. This helps raise optimism that the US economy will see a strong rebound in GDP growth for the third quarter. The news fuelled a rally in dollar/yen to mark a new one-week high. USDJPY jumped to 78.85 and then consolidated in [..]