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The euro advanced versus most major counterparts as data showed German investor confidence increased this month and U.S. retail sales rose in January less than economists forecast.
Commerce Department data showed U.S. retail purchases rose 0.3 percent last month, the smallest gain since a drop in June. Economists in a Bloomberg News survey predicted a gain of 0.5 percent.
“The euro’s price action is encouraging and somewhat corrective to some of the weakness we’ve seen in recent days,” said Nick Bennenbroek, head of currency strategy at Wells Fargo & Co. in New York. “It’s responding mostly to those retail sales figures, with the disappointing data leading to a slightly stronger euro.”
Global demand for U.S. stocks, bonds and other financial assets fell in December from a month earlier, the Treasury Department reported. Net buying of long-term equities, notes and bonds totaled $65.9 billion during the month compared with net buying of $85.1 billion in November, according to data released today in Washington.
The pound rose against all 16 major currencies as U.K. inflation increased. Europe’s common currency lost 0.9 percent versus the greenback over the past week.
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