The US dollar devitalized against a basket of major currencies Thursday following mild retail sales made investors think about this year’s interest rate hikes.
According to the Commerce Department, April retail sales were flat, while import prices tumbled for a 10th straight month.
The dollar traded at $1.1355 per euro and $1.5768 per British pound. Against the Japanese yen, the greenback slipped to a two-week low of ¥119.03.
Market speculations for a 2015 rate increase have declined further. “it is a blow to the narrative that April would bounce back after Q1 weakness and gives further legs to the USD correction,” said Elsa Lignos, Senior Currency Strategist at RBC.
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