US dollar, sterling stronger

By early afternoon in New York on Thursday, the US dollar had risen slightly in relation to the yen, euro, and sterling. The greenback had weakened on Wednesday afternoon after the US Federal reserve voted to keep interest rates at 5.25 percent and omitted any language that would indicate it is ready to raise rates anytime soon.

At midday in London, sterling was stronger. The gains came on new data showing that retail sales in the UK were up by 1.4 percent in February, making back most of the decline in January sales. Meanwhile, the yen was even versus the euro but dropped in relation to the Australian and New Zealand dollars. The yen continued to be popular for funding high-risk carry trades.

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