Dollar falls as US retail sales weaken
The US dollar declined during Friday's trading after US retail sales dropped by 0.6% in July, exceeding expectations of a 0.1% increase. This decrease comes amid concerns of a slowdown in consumer activity, which is affecting projections for interest rate hikes by the Federal Reserve, with the odds of a hike in September dropping to 31% and rising to 64% in December. Weak economic data led the dollar index to fall to 99.59 points, while the euro rose to 1.1568 dollars. The Japanese yen also appreciated to 158.97 against the dollar, with increasing probabilities that halting the yen’s decline may require raising Japanese interest rates or implementing new official interventions.
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