The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, while risk-sensitive currencies were hobbled by concerns about the coronavirus and diplomatic tensions in Asia.
FILE PHOTO: U.S. Dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo
China sharply ramped up restrictions on people leaving the capital on Tuesday in an effort to stop the most serious coronavirus flare-up since February from spreading to other cities and provinces. Against the yen, the dollar was little changed at 107.39 yen, stuck in a narrow range so far this week. The surge in retail sales last month recouped 63% of March and April’s decreases, raising hopes of a quick recovery in the consumption, the driver of the U.S. economy.
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