The dollar was mixed in N.Y. trade on Friday, as focus remained on equity markets which sold off sharply through the session. Incoming data was generally lousy, as retail sales missed the mark, industrial production was weaker than forecast, and the Empire State Index fell like a stone. All the bad news pushed back Fed rate hike expectations for March, which allowed EUR-USD to rally toward 1.0985. USD-JPY fell to nearly five-month lows of 116.51, as risk-off conditions prevailed. USD-CAD meanwhile, added to its sharp overnight gains, peaking at 1.4554, a new 12-plus year high.
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