Dollar Declines as U.S. Retail Report Reduces Demand for Haven
This article is for subscribers only.
The dollar weakened against the majority of its most-traded counterparts as U.S. retail sales fell less than forecast, damping demand for haven assets.
The U.S currency rose against the yen and Swiss franc after the retail sales report, which followed data this month showing slowing manufacturing and rising unemployment. Currencies of commodity-exporting countries, such as the Canadian and Australian dollars, rose the most against major peers as raw material prices gained. The euro pared its gain against the dollar on reports an agreement on a second bailout for Greece may be delayed.