U.S. Retail Sales Rebound While Inflation Cools; Dollar Rises Against Euro
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U.S. retail sales fell less than expected in October, bouncing back from the biggest drop in a year.
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The dollar gained against major currencies like the euro after the better-than-expected retail sales data.
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Cooling inflation suggests the Fed's rate hikes are slowing the economy as intended.
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In the UK, slower inflation led to doubts about further Bank of England rate hikes. The pound eased back.
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Chinese data showed industrial output and retail sales grew more than expected, supporting the yuan. But property weakness remains a drag.