HONG KONG, Nov 17 — The dollar reached a four-and-a-half-year high against the yen today after better-than-expected US retail data, which also boosted Wall Street equities, although Asian shares failed to follow suit.
The greenback was helped by Tuesday data which showed US retail sales rose faster-than-expected in October, potentially encouraging the US Federal Reserve to accelerate the tapering of its asset purchase programme, as inflation remains stubbornly high. Britain publishes its October CPI inflation data later today with a high print likely to add pressure on the Bank of England to raise rates in December after surprising markets by holding fire last month.
Australian shares slipped 0.5 per cent, weighed by Commonwealth Bank of Australia, the country’s largest bank, whose shares slipped 6 per cent after it flagged hit to margins from the low interest rate environment and mortgage competition.