The dollar trampled on Thursday following well-built U.S. retail sales and producer prices data fortify the outlook that the U.S. economy will not fall into a recession in the face of a persistent credit crunch. "Today's data support the Fed's outlook that the economy is still pretty solid and that they can't just lesser by 50 basis points as lots of people had required. "Consequently confirm the Fed's achievement on Tuesday, as they cut rates by presently 25 basis points".

The Fed prior this week cut both the benchmark fed funds and reduction rates for loan to banks by a quarter percentages point to 4.25 and 4.75 percent correspondingly. The euro felled 0.4 percent against the dollar to $1.4655 .The dollar ascend half a percent next to the Swiss franc to 1.1401 francs ,whereas sterling chop 0.4 percent to $2.0389, hit prior in the session by weak UK covering data.

Refer: http://today.reuters.com/news/articleinvesting.aspx?type=usDollarRpt&storyID=
2007-12-13T153247Z_01_N13366410_RTRIDST_0_MARKETS-FOREX-UPDATE-7.XML