Business Daily
Date: 15.12.2014
Page 23
Article size: 147 cm2
ColumnCM: 32.66
AVE: 62066.66
Dollar rises as
confidence in
US economy
grows after data
The dollar rose against other curren­ an Central Bank (ECB) to banks on
cies in Asia on Friday as a strong US Thursday.
retail sales report reinforced inves­
tor confidence in the world's largest Stark contrast
The single currency slipped to
The dollar was at 118.81 yen in af­ $1.2396 Friday from $1.2410 in US
ternoon trade compared with 118.65 trade while firming to 147.28 yen
economy.
yen in New York and sharply higher from 147.24 yen.
The ECB's loan sale was "no block­
than the 117.67 yen touched earlier
Thursday in Tokyo.
buster, not that anyone expected it",
"The strong US retail sales report NAB said in a note.
for November, together with the mar­
"The outcome was in line with al­
ket reflecting perhaps on the boost ready­low expectations, a stark con­
to US consumer purchasing power trast to the rip­roaring US economy
from lower gasoline prices, lifted eq­ that posted a strong retail sales report
uities and the dollar," said National for November" even with the deflating
Australia Bank.
The Commerce Department said
effect from lower gas prices, it said.
The ECB said 306 banks had bor­
US retail sales in November, the be­ rowed a slack 129.8 billion euros in
ginning ofthe holiday shopping sea­ the second round of its programme
son, added a solid 0.7 percent from of cheap, long­term loans aimed at
the previous month and 5.1 percent boosting the economy. The result
from a year ago.
raised the prospect that the ECB will
Consumer spending accounts for launch more aggressive easing early
almost three quarters of output in the
next year. The dollar was mostly
world's biggest economy and the fig­ higher against other Asia­Pacific cur­
ures are the latest to indicate a strong rencies. It gained to Sg$1.3119 from
recovery is on track, adding to pres­ Sg$1.3112 on Thursday, to 1,101.94
sure on the Federal Reserve to hike
South Korean won from 1,098.35
interest rates sooner than later.
won and to 12,437.00 Indonesian ru­
The euro was mixed after losing piah from 12,338.00 rupiah.
ground in reaction to the disappoint­
It also rose to 62.44 Indian rupees
ing sale of new loans by the Europe­ from 62.14 rupees but fell to 32.79 Thai
baht from 32.82 baht. ­ AFP
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