Dollar weakens after retail sales drop

The dollar fell against the yen and erased gains versus the euro, after US retail sales unexpectedly fell for a third month.

16th July, 2012
Dollar weakens after retail sales drop
Dollars and euros

The dollar fell against the yen and erased gains versus the euro, after US retail sales unexpectedly fell for a third month, adding to speculation that the Federal Reserve will take further steps to bolster the economy.

The euro reached a six-week low against the yen as the inflation rate in the currency region last month matched the lowest since February 2011. The yen rose versus most of its major counterparts as the Dollar Index...

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