The dollar gained for a third straight session against the yen and euro on Monday as data showing an unexpected rise in U.S. retail sales assuaged fears of an economic slowdown in the world's largest economy.
The dollar, which pierced the 100 yen mark last week, continued to add to gains, hitting its highest level against the yen since October 2008 after Group of Seven finance officials over the weekend held back from directly criticizing Japan's monetary policy.
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The dollar's outperformance can largely be attributed to central bank policy, with aggressive monetary easing in Japan and concerns about the risk of negative deposit rates in the euro zone contrasting with expectations the U.S. Federal Reserve will scale back its asset-buying program later this year.
The dollar gained after U.S. retail sales unexpectedly rose in April as households bought automobiles, building materials and a range of other goods, pointing to underlying strength in the economy.
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U.S. Treasury bond yields, which move inversely to price, rose after the data, further fueled broad dollar strength.