U.S. Dollar Near Three Week Low after U.S. Data

The U.S. dollar was pinned at three-week lows against a basket of major currencies early on Friday after disappointingly soft U.S. data dealt a blow to the already struggling greenback.

U.S. retail sales fell unexpectedly in January and more Americans filed for jobless benefits last week, the latest signs the world’s biggest economy started the year on a softer footing as bad weather took its toll.

The dollar index slid to a low of 80.194, reaching a level last seen on Jan. 24. It has since crept up to 80.296.  Against the yen, the greenback dipped to 102.18 from Thursday’s high of 102.58, while the euro climbed to a near three-week peak of $1.3692.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.