General

US Dollar Weakens Amid Gloomy Economic Data

Author : NewsGram Desk

The US dollar declined as the allure of the greenback diminished amid a slew of downbeat economic data.

In late New York trading on Thursday, the euro rose to $1.1299 from $1.1269 in the previous session, and the British pound decreased to $1.2801 from $1.2850 in the previous session, Xinhua news agency reported.

The Australian dollar rose to $0.7105 from $0.7094.

The US dollar bought 110.47 Japanese yen, lower than 110.99 Japanese yen of the previous session. The US dollar was down to 1.0047 Swiss franc from 1.0088 Swiss franc, and it increased to 1.3281 Canadian dollars from 1.3250 Canadian dollars.

The Australian dollar rose to $0.7105 from $0.7094. Pixabay

US retail sales in December fell 1.2 per cent from the prior month, the worst drop in nine years, the Commerce Department reported on Thursday.

The unexpected decline, which came after a downwardly revised 0.1 per cent increase in November, signals a weaker economic momentum.

The dollar index, which measures the greenback against six major peers, fell 0.15 per cent at 96.9817 in late trading. (IANS)

Subscribe to our channels on YouTube and WhatsApp 

Delhi on High Alert as Intelligence Warns of Lashkar-e-Taiba IED Blast Possibly Targeting Red Fort and Chandni Chowk Religious Sites

'Policy Paralysis in Delhi': Bharatiya Liberal Party Questions BJP Government on its One Year of Misgovernance in Delhi

Trump Invokes Section 122 to Impose 10% Global Tariff for 150 Days

US Supreme Court Ruling Reduces 18% Reciprocal Tariffs on India

Morocco Faces Global Backlash Over Mass Killing of up to 3 Million Stray Dogs Ahead of 2030 FIFA World Cup as Report Highlights ‘Massacre’ and Torturous Conditions