NEW YORK, March 13 (Reuters) - The
dollar climbed to a seven-month high against a basket of currencies and a
three-month peak against the euro on Wednesday as robust U.S. retail sales data
bolstered prospects for the world's largest economy.
The greenback has risen nearly 4
percent against a currency basket and about 1.8 percent versus the euro so far
this year. It has outperformed most major currencies in 2013.
The U.S. retail sales data was the
latest evidence that the economy is firing on almost all cylinders. The
Commerce Department said February retail sales increased 1.1 percent, the
largest monthly rise since September.
"The growing dichotomy between
the ever-improving U.S. economic picture and the moribund conditions in the
euro zone has finally pushed the euro through the $1.2950 key support level
against the dollar," said Boris Schlossberg, managing director of FX
strategy at BK Asset Management in New York.
- U.S. retail sales post largest rise since September
- U.S. economy outperforms, boosting dollar sentiment
- Euro hurt by higher Italian bond yields after auction
- RBNZ keeps rates steady, says won't raise rates this year
