Source Pravda.Ru

Euro up against dollar as U.S. retail sales slow

The euro traded higher against the dollar on Wednesday as U.S. data showed that retail sales had slowed in January.

The 13-nation euro bought US$1.3094 in afternoon European trading, up from US$1.3031 in New York late Tuesday. The British pound rose to US$1.9564 from US$1.9459.

The dollar was a little lower against the Japanese currency, slipping to 121.08 yen from 121.22 yen.

The U.S. Commerce Department reported Wednesday that retail sales essentially were flat in January, the weakest performance in three months, hurt by a big drop in auto purchases. Analysts had expected a gain of 0.3 percent.

"This report makes further Federal Reserve interest rate hikes less likely and should be good for stock prices," said Peter Morici, a professor at the University of Maryland School of Business.

The prospect of flat or falling interest rates is, however, liable to depress the dollar, reports AP.

Higher interest rates, a weapon against inflation, support a currency by making some assets denominated in that currency more attractive to investors.

Markets also were awaiting testimony to Congress from Federal Reserve Chairman Ben Bernanke for pointers on the bank's future interest rate course.

The Fed has held rates steady over recent months after a long series of increases, while the European Central Bank has raised its rates.

The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations

Blame MH17 on Russia: International investigation turns into demonic circus

The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations

Blame MH17 on Russia: International investigation turns into demonic circus

On the second day of the St. Petersburg International Economic Forum, a plenary meeting was held, in which Russian President Vladimir Putin, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice President Wang Qishan and IMF head Christine Lagarde took part

World leaders unite with Russia at St. Petersburg International Economic Forum
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Blame MH17 on Russia: International investigation turns into demonic circus
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Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus