The rising dollar was tempered a bit in February compared to recent months, with the U.S. dollar index closing down by 1.4%.
With the notable exception of the UK pound, most key apparel currencies rose against the dollar in the month, with the yen strengthening the most against the U.S. currency.
The euro fell by 0.4% against the U.S. dollar, closing the month 11.5% below year-ago levels.
The U.K. pound sterling fell by 3.1% against the dollar in the month, ending 11.4% lower than a year ago.
The Chinese yuan edged up by 0.4% in February, to 6.5% below its year-ago level.
The Indian rupee rose by 1.9% in the month, 7.8% lower year-over-year.
The Indonesian rupiah rose by 3.3% relative to the dollar in February, but remained 4.1% lower than the same month in 2015.
The Pakistani rupee edged up by 0.2% in the month, bringing its full-year decline to 2.8%.
The Bangladeshi taka was flat in December, continuing the relatively stable trend of the past few months, with a year-over-year decline of less than 1 percent.
The Japanese yen has been rallying of late, and gained 6.3% in February compared to January, bringing its full-year increase to 4.9%.
If your denim can stretch that’s great, but it’s going to have to do more than that to attract today’s choosy consumer.Read more
Nobody wants to do business with a store that may soon be out of business.Read more
Jeff Gennette is the new CEO of and president Macy's, plus Citi Trends announces changes to its executive fleet.Read more
PVH is stepping up its supply chain efforts with a new alliance.Read more
Now that we’re well beyond the simpler times of fewer consumer demands and less competition, there are certain necessary investments retailers need to make.Read more
Macy’s board of directors voted to appoint Jeff Gennette CEO of the retail giant yesterday.Read more
America’s apparel market is debunking the department store demise.Read more