Sat, 19 Sep 2020

U.S. dollar slides amid disappointing retail sales

Xinhua
15 Aug 2020, 05:44 GMT+10

NEW YORK, Aug. 14 (Xinhua) -- The U.S. dollar declined in late trading on Friday after data showed the nation's retail sales in July increased less than expected.

The dollar index, which measures the greenback against six major peers, fell 0.26 percent at 93.0957.

In late New York trading, the euro increased to 1.1837 U.S. dollars from 1.1800 dollars in the previous session, and the British pound rose to 1.3090 dollars from 1.3053 U.S. dollars in the previous session. The Australian dollar increased to 0.7173 U.S. dollar from 0.7143 dollar.

The U.S. dollar bought 106.55 Japanese yen, lower than 106.90 Japanese yen of the previous session. The U.S. dollar was down to 0.9093 Swiss franc from 0.9107 Swiss franc, and it rose to 1.3256 Canadian dollars from 1.3224 Canadian dollars.

On the data front, U.S. retail sales rose 1.2 percent last month after advancing 8.4 percent in June, the Commerce Department reported on Friday. Economists polled by MarketWatch had forecast a 2-percent increase.

The rebound in U.S. retail sales slowed in July by more than expected, indicating a surge in new COVID-19 infections threatened the economic recovery, experts noted.

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