Oct. 15 (Bloomberg) — The yen weakened against most of its major counterparts as a report showed U.S. retail sales rose more than forecast in September, reducing demand for safety.
Japan's currency fell for a third day versus the dollar and euro. The Mexican and Swedish currencies climbed versus their major peers, while the euro touched a one-week high against the yen after German Finance Minister Wolfgang Schaeuble said a Greek sovereign default "will not happen." South Africa's rand slid for a second day versus the dollar after Standard & Poor's cut the country's credit rating Oct. 12.
"Good retail sales should be decent for risk-taking at this point," Brian Kim, a currency strategist at RBS Securities Inc. in Stamford, Connecticut, said in a telephone interview. "The dollar is getting a little boost. The data is helpful to the U.S. dollar versus yen."
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.