Dollar falls after weak retail sales data

The greenback was down half a percent against a basket of currencies, last at 90.341, retracing most of the gains made earlier this week after data showed a surprise surge in consumer prices.The Commerce Department said on Friday that retail sales were unchanged in April after recording a 10.7% surge in March, boosted by stimulus checks. But another acceleration in retail sales is likely in the coming months as the U.S. economy reopens and Americans spend the savings they have been amassing.

“The U.S. dollar pared more of its weekly gain Friday after disappointing news on America’s main growth engine, the consumer, added more evidence of an uneven recovery,” wrote Joe Manimbo, senior market analyst at Western Union Business Solutions.Friday’s drop erases some of a two-day rally in the dollar after data on Wednesday showed U.Sคำพูดจาก สล็อต168. consumer prices increased by the most in nearly 12 yearsคำพูดจาก เกมสล็อต. While the Fed has pledged to keep interest rates low even as inflation rises, some in the market have bet that the Fed will be forced to act sooner than expected. Higher interest rates strengthen the dollar. 

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