The dollar index, which measures its performance against a basket of six currency pairs, fell 0.06% to 106.342 units after hitting a low of 105.859 units earlier in the session. The greenback added 0.07% against the Japanese yen to 139.395, compared with a 2.5-month low of 137.67 yen.
On the other hand, The euro rose against the greenback and against the yen amid geopolitical tensions after Poland and NATO said on Wednesday that an explosion that killed two people the day before was probably caused by a missile stray from Ukrainian air defenses and not to an intentional Russian attack.
The euro rose 0.33% to $1.0388, although it was still below a four-and-a-half-month high of $1.0481 recorded in the previous session, after the US Producer Price Index came in below expectations on Tuesday.
The European currency also erased Tuesday’s losses against the yen. In the afternoon, it traded 0.46% higher against the Japanese currency.
On Wednesday, US retail sales rose more than expected in Octoberdriven by purchases of motor vehicles and a variety of other goods, suggesting that consumer spending could help prop up the economy in the fourth quarter.
Strong retail sales released by the Commerce Department and signs of slowing inflation prompted cautious optimism that the economy could avoid a recession next year or experience only a slight slowdown.
Source: Ambito
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