Dollar Declines As Retail Sales, PPI Disappoint
The dollar slumped Friday after official data showed retail sales declined in July, snapping three straight months of strong gains. Meanwhile, the Labor Department's producer price index showed prices paid to domestic producers for their goods declined last month, disappointing investors who had expected a slight uptick. The dollar traded at 101.30 yen after the data, compared with 101.93 yen shortly beforehand. The euro bought $1.1212 after the data, compared with $1.1167 before. The pound strengthened to $1.3021, compared with $1.2973.
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