TOKYO: The dollar was mixed Wednesday after disappointing US retail sales report aggravated concerns about the health of the world s top economy, while upbeat factory output data supported the embattled euro.
In Tokyo, the dollar was slightly higher at 119.64 yen from 119.44 yen in New York, but still down from above 119.80 yen earlier Tuesday.
The euro rose to $1.0635 from $1.0628, while it was also at 127.21 yen against 127.24 yen.
“Most of the focus was on the (dollar) overnight with the release of the March retail sales report,” National Australia Bank said in a commentary.
“It was a slight miss, but much less so than the previous two reports.”
Retail sales rebounded from a three-month slump in March, but the 0.9 percent gain was slightly weaker than estimated. Excluding auto sales, retail sales rose only 0.4 percent instead of the 0.7 percent increase expected.
The health of the world s top economy is seen as key to the timing of a Federal Reserve interest rate hike. The US central bank has signalled that any rise this year largely depended on data.
With the tepid US figures, the euro gained support from a Eurostat report showing eurozone industrial production rebounded a solid 1.1 percent in February after falling in January.
The upbeat news comes after the European Central Bank launched a massive bond-purchase programme aimed at lowering borrowing costs and, in turn, boosting the tepid eurozone economy.
The encouraging eurozone report came ahead of the ECB s monetary policy meeting later Wednesday.
