Home›Forex›Major Pairs›Dollar falls across the board after weak US retail sal…

Dollar falls across the board after weak US retail sales

July retail sales fell 0.6%, the first monthly decline in nine months, weighing on the dollar as BOJ rate-hike talk supported the yen.

Reported · Written up by our desk · Major Pairs

Forexlive’s investingLive Americas FX news wrap for Aug. 14 said the US dollar fell against major currencies, with the largest declines coming versus the NZD and CAD, as markets digested weak US retail sales and rising global bond yields.

The outlet pointed to a July retail sales report showing headline sales down 0.6% versus expectations for a 0.1% increase, after a 0.2% gain in June. Excluding autos, sales fell 0.3%, while the retail control group declined 0.4%, marking the first monthly decline in headline retail sales in nine months, according to Forexlive.

Forexlive also noted some pockets of strength within the report, including building-material sales rising 0.3% and food services and drinking places increasing 0.5%, while motor vehicles and parts fell 1.8%, electronics sales declined 0.5%, and non-store activity moved lower.

In the wider session, Forexlive said the greenback was soft as BOJ rate-hike talk lifted the yen, and US stocks finished mixed for the day even as US yields pushed higher, with the Russell 2000 up 0.5% to a new record close.

Latest closeRussell 2000 3,068.42 ▲0.5%

More like this

Sources