18/07/2012
The USD fell yesterday after a sudden contraction in retail sales in the U.S. (June) supports say a stalled recovery in the largest economy in the world.
The USD lows against the yen at 78.84 yen. In the latest transaction dollar reached 78.88 yen, down 0.4 percent. The euro trimmed its losses and rose to 1.2214 dollars, but remained down 0.3 percent.
U.S. retail sales fell for the third month in a row in June with a decline in demand for various goods from electronics to cars and building materials in the sign of the weakness of economic recovery.
The Commerce Department said yesterday that U.S. retail sales fell 0.5 per cent. This is the first time back in retail sales in three consecutive months since late 2008 when the economy was mired in a severe recession.
At the same area, the euro was down at the lowest level in six weeks against the yen yesterday amid concerns about the debt crisis of the euro area and the high returns of the bonds in the States Parties to the region, boosting demand for the Japanese currency, which is a safe haven.
The euro was down 0.7 per cent to 96.306 yen in Asian electronic trading platform on the ABS, the lowest level since the first of June.
