Forex – Dollar Remains Near 4-Month Trough After U.S. Data

© Reuters. Dollar still on the downside despite positive U.S. data – The dollar remained near four-month lows against other major currencies on Friday, despite the release of mostly positive U.S. reports on retail sales and inflation.

The U.S. Commerce Department said that retail sales rose in December, in line with expectations. Core retail sales, which exclude automobile sales, increased by , also in line with expectations.

A separate report showed that that the U.S. consumer price index rose in December, below forecasts for a 0.2% increase. Year-over-year, consumer prices increased last month.

Core CPI, which excludes food and energy costs, rose last month, above expectations for a 0.2% gain.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.56% at 91.15 by 08:45 a.m. ET (12:45 GMT), not far from a fresh four-month low of 91.03 hit earlier in the session.

The euro and the pound were higher, with up 0.80% at 1.2136 and with rallying 1.14% to 1.3686.

The single currency remained strongly supported after the European Central Bank said it could consider from early 2018, according to the minutes of its December meeting.

The yen turned lower, with up 0.22% at 111.52, while slid 0.39% to 0.9721.

Elsewhere, the Australian and New Zealand dollars were weaker, with down 0.49% at 0.7851 and with retreating 0.55% to 0.7221.

Meanwhile, rose 0.24% to trade at 1.2549.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.