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Dollar regains on good employment and trade figures

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by Brian Turner
Dollar regains on good employment and trade figures

The US dollar was up in relation to the euro, the yen, sterling, and the Australian dollar in Thursday’s mid-day trading in New York as strong retail sales figures added to previous good news on employment and trade.

The dollar reached a six-month high against the euro as it rose 0.8 percent to $1.2706; it was also up 0.9 percent in relation to the yen, to ¥106.68, a three-week high.

US currency was also up in relation to sterling, rising 0.3 percent to $1.8658, a six-week high, and it advanced 0.9 percent in relation to the Australian dollar, to $0.7664.

In other currencies, 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.

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

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News posted: May 12, 2005

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