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14 Apr 2015
USD/JPY hits 1-week low after retail sales miss
FXStreet (Córdoba) - USD/JPY turned lower and fell to fresh lows as the dollar weakened after data showed US retail sales grew less than anticipated in March.
US retail sales grew by 0.9% in March, the first increase in four months and the largest monthly gain in a year, but still missed analysts’ expectations of a 1.1% rise. When excluding both gasoline and autos, sales rose 0.5% last month.
Separated data showed producer price index rose by 0.2% in March, meeting expectations, and posting the first increase since October, while the core PPI rose 0.1% versus 0.1% of consensus.
The dollar fell across the board hurt by retail sales miss, dragging USD/JPY to a fresh 1-week low of 119.47 in recent dealings. At time of writing, the pair is trading at 119.60, recording a 0.42% loss on the day.
US retail sales grew by 0.9% in March, the first increase in four months and the largest monthly gain in a year, but still missed analysts’ expectations of a 1.1% rise. When excluding both gasoline and autos, sales rose 0.5% last month.
Separated data showed producer price index rose by 0.2% in March, meeting expectations, and posting the first increase since October, while the core PPI rose 0.1% versus 0.1% of consensus.
The dollar fell across the board hurt by retail sales miss, dragging USD/JPY to a fresh 1-week low of 119.47 in recent dealings. At time of writing, the pair is trading at 119.60, recording a 0.42% loss on the day.