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The dollar stood near an 11-month high against a basket of currencies after stronger-than-expected U.S. October retail sales data. The figures lifted Treasury yields and reinforced expectations of a Federal Reserve rate hike in December.
Firmer U.S. economic data and rate-hike expectations support the dollar, a modest headwind for U.S. feed commodity export demand.
reuters.comNov 16, 2016After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Strong retail sales pushed Treasury yields up and kept the dollar near highs, giving the rally fresh momentum.
