US dollar weakens in Asia after retail sale rally
AFPTOKYO--The dollar's rally on better-than-expected U.S. retail sales fizzled in Asian trade Thursday while the euro also came under pressure after disappointing eurozone data.
March 15, 2013, 12:06 am TWN
The greenback pushed past the 96 yen level in U.S. trading as the Commerce Department said retail sales gained 1.1 percent in February over the month before, boosting optimism about the world's biggest economy.
But the unit gave up those gains in Asia, fetching 95.92 yen in afternoon Tokyo trade, against the 96.14-yen close in New York Wednesday.
“No particular news is behind its fall, but unless the (dollar/yen) pair is able to recover the 96.00 level, it could continue falling toward 95.50,” said a senior trader at a major bank in Japan.
The euro eased to US$1.2947 and 124.21 yen against US$1.2956 and 124.56 yen following a lackluster Italian bond sale and weak eurozone factory output data, which showed a 0.4 percent on-month fall in January.