The US dollar hit session highs against the euro, yen and pound after the retail sales report but it wasn’t exactly a ringing endorsement.
The moves were limited to about 15 pips and some has retraced.
The price action after the report is telling. Good isn’t good enough. The dollar bulls want an accelerating economy that will force Yellen to hike rates faster than expected. They want something that will inspire retailers to invest or hire workers.
If it’s a 2.8% economy instead of a 2.6% economy, what’s the difference?
