Dollar jumps higher on resilient retail sales

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Just as we thought the dollar had settled into a steady range ahead of next week’s bumper central bank meeting fest, including the FOMC get-together, the world’s reserve currency surged to the upside and the top of the recent range.

The usual (and persistent) Covid global growth concerns and China jitters saw the greenback push higher in the morning session yesterday. But the surprising beat in retail sales really helped propel it to month-to-date highs. Instead of falling as consensus estimated, the headline figure grew 0.7% m/m with sales within the control group (which excludes… Read More:

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