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.
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at email@example.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.