Dollar falls as US economy slows
The US dollar index declined today due to a 0.6% drop in retail sales in the United States in July, moving lower than the expected increase of 0.1%. This comes amid reports indicating a slowdown in the American economy, with increasing expectations that the Federal Reserve will not raise interest rates at its September meeting, as decreased consumer demand is seen as a sign of weaker consumption and slower growth. Conversely, the Japanese yen rose to 158.97 per dollar, amid expectations that the Bank of Japan will raise interest rates in September and beyond, despite the currency declining approximately 0.7% over the past week.
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