U.S. Dollar Lower after Retail Sales Data

The dollar nursed broad losses early on Wednesday, having snapped six straight sessions of gains after retail sales data failed to meet the market’s lofty expectations.

The dollar index slid 0.7 percent, posting its biggest one-day fall in nearly two weeks as Treasury yields sank. The two-year yield touched a low of 0.500 percent, pulling away from Monday’s high of 0.576 percent.

U.S. retail sales rose 0.9 percent in March, just undershooting the consensus forecast of a 1.0 percent gain, while core sales were much softer.