retail sales: Retail sales, producer prices and consumer sentiment are forecast to also show increases before Fed policy makers gather in less than two weeks, according to Bloomberg. If we’re going see another meaningful rally in the dollar, the main focus is really retail sales, Paresh Upadhyaya, director of currency strategy at Pioneer Investment Inc. in Boston, said by phone. The U.S. currency jumped to a 13-year high against the yen after a report Friday showed payroll employment grew more than forecast in May and wages rose, bringing forward the chance of a Federal Reserve interest-rate increase to September. Retail sales has been, to say the least, on the soggy side, and May should be a real clean read, we don’t have any type of weather-related issues. The U.S. currency fell 1.2 percent to $1.1114 per euro. The dollar advanced 1.2 percent to 125.63 yen this week in New York, and touched 125.86, the highest level since June 2002.
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Tagged under retail sales, Fed policy makers topics.