Australian retail sales had the biggest increase in 10 months in November as Black Friday discounting drew cost-conscious shoppers, but even so they missed forecasts suggesting consumer demand remains subdued.

“Black Friday sales events proved once again to be a big hit, with widespread discounting and higher spending across all retail industries,” ABS head of business statistics Robert Ewing said.

The doom and gloom for Aussie retailers has temporarily subsided, as shoppers returned in droves during the Black Friday sales.

The U.S. dollar drew strength from rising Treasury yields on Thursday, adding pressure to the pound and euro, while the yen edged up from recent lows, and the market waited for clarity on possible Trump tariffs.