Dollar peaks on 8-month high vs JPY as US economy keeps stable growth

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US dollar gained against Japanese yen on an eight-month peak due to a stable growth rate in US economy in 2019.

Retail sales rose for the third straight month in December while filing claims for unemployment benefits fell for the fifth straight week, showing a strong and stable labor market.

Manufacturing activity in the Mid-Atlantic region indicated a rebound in January, the highest in eight months. The Federal Reserve Bank of Philadelphia called the factory outlook the brightest in 18 months.

The dollar climbed up to 110.24 against the Japanese Yen, the highest since May 2019.

The dollar index showed the USD last priced at 97.308, up 0.1% on the day. Euro remained at 1.1137 against the USD, while Australian dollar rose up to $0.69335.

In prospect, AUD will likely depend on the upcoming fourth quarter GDP of China, but unlikely to break the $0.6934-$0.6870 range, said CBA chief currency strategist Richard Grace.

China is set to declare its GDP today (0200 GMT), including December factory output, fixed-asset investment, and retail sales.

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