The U.S Dollar saw a rebound on Friday, January 20, against major rivals as investors were avoiding major bets ahead of Donald Trump’s presidential inauguration speech set for around 11:30 a.m. Eastern time.
The dollar, which has lost some of its momentum in recent weeks, was up 0.1 percent against six major currencies .DXY.
Meanwhile, the British Pound Sterling GBPUSD, -0.1378% slumped against the dollar the data Friday showed retail sales declined 1.9% in December on a month-over-month basis, the slowest pace of growth since 2012.
The pound fell to as low as $1.2283, but recovered somewhat since. In late morning Friday, the pound bought $1.2322, only slightly down from $1.2334 late Thursday.
Meanwhile, the European Central Bank left rates unchanged on Thursday while ECB President Mario Draghi said the bank can expand its quantitative-easing program if needed.
The euroEURUSD, +0.0844% strengthened to $1.0675 from $1.0656 late Thursday. Against its Japanese counterpart, the greenback USDJPY, +0.06% gained upside momentum to hit as high as ¥115.38. It has changing hands at ¥114.99, little-changed from levels late Thursday in New York.
