(Adds details on retail sales, analyst comment, debt ceiling detail, FX table, byline, updates prices)
The U.S. dollar drifted higher on Tuesday after data showed retail sales in April were lower than expected but the underlying trend remained resilient.
The dollar index was last slightly up on the day at 102.43 =USD . Against the yen, the greenback was also modestly higher at 136.155 yen JPY=EBS
U.S. retail sales rose less than expected in April, though the underlying trend remained solid, suggesting that consumer spending likely remained strong early in the second quarter.
"It was a rebound after two soft months, which suggests that consumer spending is still holding up," said Vassili Serebriakov, FX strategist at UBS.
"Consumer spending has been the strongest component of the economy at the moment. And we have seen business confidence indicators are much weaker than consumer indicators and this report is consistent with that."
Currency investors though remained on tenterhooks amid a slew of event risks including an important meeting between U.S. President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy with a little more than two weeks to go before the U.S. government could run short of money to pay its bills.
"There is maybe some potential news on the debt ceiling today. Chances are that this is going to be pushed closer to the deadline, which is early next month," Serebriakov said.
"So the market should remain in a range. I don't really see any direction impulse here."
======================================================== Currency bid prices at 9:30AM (1330 GMT)Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index =USD 102.4200 102.4300 +0.01% -1.034% +102.5700 +102.1900 Euro/Dollar EUR=EBS $1.0875 $1.0874 +0.01% +1.49% +$1.0905 +$1.0863 Dollar/Yen JPY=EBS 136.1900 136.0950 +0.08% +3.88% +136.2250 +135.6800 Euro/Yen EURJPY= 148.11 148.01 +0.07% +5.57% +148.2400 +147.6200 Dollar/Swiss CHF=EBS 0.8953 0.8956 -0.03% -3.17% +0.8962 +0.8920 Sterling/Dollar GBP=D3 $1.2505 $1.2531 -0.20% +3.42% +$1.2546 +$1.2466 Dollar/Canadian CAD=D3 1.3417 1.3466 -0.36% -0.97% +1.3493 +1.3410 Aussie/Dollar AUD=D3 $0.6677 $0.6700 -0.35% -2.05% +$0.6710 +$0.6666 Euro/Swiss EURCHF= 0.9737 0.9739 -0.02% -1.60% +0.9742 +0.9720 Euro/Sterling EURGBP= 0.8694 0.8678 +0.18% -1.70% +0.8718 +0.8680 NZ NZD=D3 $0.6240 $0.6243 -0.04% -1.72% +$0.6260 +$0.6228 Dollar/DollarDollar/Norway NOK=D3 10.6610 10.6000 +0.71% +8.77% +10.6720 +10.5930 Euro/Norway EURNOK= 11.5903 11.5214 +0.60% +10.45% +11.6190 +11.5195 Dollar/Sweden SEK= 10.3779 10.3480 +0.33% -0.29% +10.3837 +10.3188 Euro/Sweden EURSEK= 11.2822 11.2454 +0.33% +1.19% +11.2944 +11.2411
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News: FOREX-Dollar edges higher after US retail sales; debt ceiling in focus
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