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The Dollar is posting strong losses with mixed economic data
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 Arab and international |
Economy News Baghdad The US dollar turned sharply lower against other major currencies on Wednesday, after inflation and retail sales. The US currency was gaining gains minutes after the announcement of inflation data, which showed the acceleration of the CPI more than expected during the last month. Separately, US retail sales fell last month, reversing expectations for a rise, signaling a drop in consumer spending, which is an important part of the world's largest economy. By 8:12 pm GMT, the greenback was down 0.7% at $ 1.2443. The dollar also fell against the Japanese yen by 0.7% to 107 yen after falling to 106.7 yen for the first time in 15 months. The greenback was down 0.7% at $ 1.3995, falling against the Swiss franc by 0.4% to 0.9307 francs. Meanwhile, the dollar index, which measures the performance of the currency against 6 other major currencies, fell 0.7% to $ 89.08. |
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