Forex and Gold Daily Report 16 January 2013

The dollar moved higher against most of its peers on Tuesday as investors sought safety in the liquid currency on fears brinkmanship and political finger-pointing will build as the U.S. government approaches its USD16.4 trillion debt ceiling, likely by late February.

Gold prices rose on Tuesday after retail sales came in better than expected, which sent the precious metal rising especially after Federal Reserve Chairman Ben Bernanke a day earlier suggested loose monetary policies will stay in place for now.

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