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Dollar extends losses vs yen after U.S. retail sales data
July 16, 2012 / 12:47 PM / 5 years ago

Dollar extends losses vs yen after U.S. retail sales data

NEW YORK, July 16 (Reuters) - The dollar fell on Monday after an unexpected contraction in U.S. retail sales in June, bolstering the view that recovery in the world’s largest economy has stalled.

U.S retail sales fell 0.5 percent last month where economists had expected a gain of 0.2 percent. Ex-autos, sales dropped 0.4 percent.

The dollar fell to session lows against the yen after the data to 78.84 yen. It was last at 78.88, down 0.4 percent.

The euro, meanwhile, trimmed losses, rising to $1.2214 , still down 0.3 percent on the day, from about $1.2182 just before the data.

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