Forex- U.S. Dollar Rises as Sterling, Euro, Fall

© Reuters. The dollar was higher on Thursday. – The dollar was higher on Thursday, while sterling fell after lower than expected retail sales.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% to 89.46 by 5:34 AM ET (9:34 GMT).

The dollar gained ground against the yen, with rising 0.15% to 107.38. Rising geopolitical and trade tensions have weighed on the dollar in recent months. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

U.S. President Trump and Japanese Prime Minister Shinzo Abe met in Florida this week and have agreed to intensity trade consultations. Trump wants a bilateral deal with Japan and said he would be willing to negotiate steel and aluminum tariffs if the two countries can come to an arrangement. Japan, despite being a long-term U.S. ally, currently is not exempt from the tariffs on imported steel and aluminium.

The pound inched down after retail sales came in lower than expected, adding doubts about the Bank of England’s monetary policy. fell 0.16% to 1.4179 after data showed that fell 1.2% in March compared to a rise of 0.8% in February.

Meanwhile sterling was also hit by data on Wednesday that showed fell to 2.5% in March, the lowest in a year.

The euro was down, with falling 0.11% to 1.2360.

Elsewhere, the Australian dollar was higher, with up 0.10% to 0.7792 while decreased 0.12% to 0.7310.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.