Dollar Rises Against Yen Despite Data
Author: Stephen L. Bernard</br></br>NEW YORK--The dollar rose to the strongest point in nearly two months against the yen as traders remained upbeat about U.S. economic growth despite a disappointing report on retail sales.</br></br>The U.K. pound was among the best-performing currencies after the latest inflation reading bolstered expectations for an interest-rate increase in the coming months.</br></br>The euro traded in a volatile but tight range after news that gross domestic product in the bloc of euro-using nations rose 0.3% in the fourth quarter from the third quarter. That matched the pace in the third quarter.</br></br>Traders largely brushed aside news that U.S. retail sales rose by 0.3% in January, only half of what economists expected. Major snowstorms across much of the country last month likely kept shoppers at home. Fundamentals for expansion in the U.S. economy remain in place despite the temporary slowdown in retail sales growth, analysts said.