* Dollar recovers from a 5-week low vs yen
* Dollar index above the lowest level since Dec. 8
* China trade data softer than expected
* U.S. retail sales data due later in the day
By Yuzuha Oka
TOKYO, Jan 13 The dollar inched up from a
five-week low against the yen and steadied against the broader
basket of currencies on Friday, while the markets brushed off
softer-than-expected Chinese exports figures.
The dollar last stood at 115.04 yen, up about 0.3
percent from late U.S. levels after having tumbled to a
five-week low of 113.75 yen on Thursday in wake of
disappointment at President-elect Donald Trump's failure to
elaborate on fiscal stimulus plans during a news conference a
On the week, the dollar has lost 1.6 percent so far - its
fourth straight week in the red, which would mark its biggest
weekly fall since late July if the losses are sustained.
The dollar index, which measures the greenback against a
basket of six major peers, stood at 101.54 after having fallen
to 100.72 on Thursday, its lowest level since Dec. 8.
Some analysts think the dollar could regain an upper hand as
soon as more details of Trump's stimulus become clear.
"It is unlikely that the yen strengthens further against the
dollar," Yukio Ishizuki, FX strategist at Daiwa Securities in
Tokyo. "The U.S. Treasuries yield is expected to rise
considering rising U.S. inflation expectations."
With U.S. markets closed for a holiday traders were unlikely
to open fresh positions ahead of the long weekend, though U.S.
data to be released later in the global day could give the
dollar a final jolt for the week. Producer price data is also
due for release.
"The dollar can be sold further if December retail sales are
worse than expected," said Kumiko Ishikawa, FX market analyst at
Sony Financial Holdings.
A Reuters poll forecast 0.7 percent growth in retail sales
in December, following 0.1 percent growth in
Last week's U.S. jobs data showed wages rose at the fastest
pace since June 2009, fuelling expectations that Trump's
expected fiscal spending and tax cuts could boost U.S.
The euro traded at $1.0607, having hit a two-week
high of $1.0684 on Thursday.
Currencies showed muted reaction to data showing China's
December dollar-denominated exports were down 6.1 percent, while
imports were up 3.1 percent.
The trade surplus of the world's second largest economy
unexpectedly shrank to $40.818 billion in December from
November's $44.61 billion.
Still, with Trump threatening to label China a currency
manipulator, the country's trade surplus is likely to be closely
watched in the future.
The yuan was little changed, with its offshore unit trading
at 6.858 per dollar.
The Mexican peso, a major victim of Trump's protectionist
rhetoric, licked wounds after hitting a record low on Wednesday,
hit by worries of deep economic slowdown as Trump has said U.S.
auto companies would face a high tax for products made south of
The peso stood at 21.8080 peso to the dollar,
having broken the 22 peso-per-dollar mark for the first time on
(Editing by Simon Cameron-Moore)