WS: Dollar rises against yen, falls against euro after retail sales data
NEW YORK — The dollar was rising against the yen but falling against most other major currencies after the government reported U.S. consumers increased their spending last month.
The Commerce Department said that retail sales rose 1.1 percent in September, as Americans spent more on autos, clothing and furniture. It was the largest gain in seven months.
In morning trading Friday, the dollar rose to 76.98 Japanese yen from 76.88 yen late Thursday.
Expectations that European leaders will announce a comprehensive plan to stem the region’s debt crisis kept the euro and other currencies higher against the dollar.
The euro rose to $1.3889 from $1.3783 late Thursday. The British pound rose to $1.5838 from $1.5769. The dollar fell to 0.8938 Swiss franc from 0.8977 Swiss franc.
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