Dollar rises on downbeat retail sales
The dollar turned higher Friday after data showed U.S. retail sales were surprisingly weak in May, sparking risk aversion. The greenback gained 0.5 percent against the euro at $1.2062 and added 1.4 percent against the British pound to $1.4513. The dollar also gained against the Japanese yen, rising 0.3 percent to ¥91.63.
On Thursday, the euro rose 0.9 percent against the dollar after the European Central Bank said it would maintain its liquidity measures, easing some fears of debt crisis in the zone. Earlier in the week the euro fell to $1.18, a level not seen since the currency's debut on Jan. 4, 1999.
The dollar turned higher Friday after data showed U.S. retail sales were surprisingly weak in May, sparking risk aversion. The greenback gained 0.5 percent against the euro at $1.2062 and added 1.4 percent against the British pound to $1.4513. The dollar also gained against the Japanese yen, rising 0.3 percent to ¥91.63.
On Thursday, the euro rose 0.9 percent against the dollar after the European Central Bank said it would maintain its liquidity measures, easing some fears of debt crisis in the zone. Earlier in the week the euro fell to $1.18, a level not seen since the currency's debut on Jan. 4, 1999.