The dollar gained on Friday as U.S. data suggested the world's largest econ...
TOKYO - The dollar gained on Friday as U.S. data suggested the world’s largest economy maintained a moderate growth pace at the end of 2019, reaching an eight-month peak against the safe-haven yen.
U.S. retail sales increased for a third straight month in December and the number of Americans filing claims for unemployment benefits dropped for a fifth straight week last week, indicating the labor market remained strong. “Consumers opened the throttle and took more shopping trips to the malls across America, which ensures GDP growth will be comfortably above 2 percent in the fourth quarter,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “There’s nothing limiting this economic expansion.”versus the Japanese currency, its highest level since late May in 2019.
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