US retail sales came in better than expected last night sparking a rally in the dollar. With a week-on-week basis, the dollar is particularly strong against the Euro and Swiss Franc by making new highs.
Some headlines:
- Reuters – Dollar Touches 2-Month High Against Euro
- FX360 – Dollar Takes Stride on Retail Sales
The Aussie is caught at a mid-week support-resistance level. It could be an important determinant of this direction next week.
Swiss Franc hourly chart
The dollar is particularly strong against the Euro and the Swiss Franc. On a week-on-week basis, the dollar has made new high versus both currency after a base building.
Direction of the yen is unclear.
