US Dollar Strengthens After Positive Retail Figures

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Today it was announced that retail sales in the U.S went up by 1% in February. This number was higher than expected, most commentators were predicting that there would be a rise, but only by 0.5%. This positive statistic is making it seem increasingly likely that America is beginning to take steps towards an economic recovery. The announcement caused traders to sell Euros, the Euro dropped below 129 against the Dollar in the hour following the release of these figures. The Dollar also continues to rise against the yen, traders have been talking about a possible reversal for a few weeks now but with the U.S economy continuing to provide traders with positive feedback it is giving no signs of slowing.

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