Dollar weakens against euro on middling economic data

Aug 13, 2016

The dollar also weakened against the yen, standing at 101.14, down from 101.97 on Thursday

The dollar weakened against the euro on Friday as lackluster reports on producer prices and retail sales dampened appetite for the greenback.

Toward 1800 GMT, the euro was at $1.1166, up from $1.1138 at 2100 GMT the day before.

The dollar also weakened against the yen, standing at 101.14, down from 101.97 on Thursday, but it strengthened against the pound, which bought $1.2911, versus $1.2955 the day before.

The euro was nevertheless down against the yen, at 112.93 versus 113.56 on Thursday.

The Commerce Department said Friday that US retail sales were unchanged in July at $457.7 billion, falling short of analyst expectations. Meanwhile the US producer prices index fell 0.4 percent for the month.

"The dollar was pretty steady overnight but we have the retail sales numbers that disappointed," said Omer Esiner of Commonwealth Foreign Exchange.

"However, when you look at a three-month chart, the dollar is still at a pretty good place against the euro."

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