FOREX-Dollar gains as retail sales beats expectations

02-13-2008, 11:23 AM

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FOREX-Dollar gains as retail sales beats expectations

The dollar rose to a one-month high against the yen on Wednesday after data showed retail sales rose by more than expected in January, easing concern about an imminent U.S. recession.

The dollar rose to around 107.95 yen <JPY=> from around 107.55 before the data was released.

Economists had expected retail sales to decline last month.

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