Dollar Falls as Retail Sales Miss Forecasts, Euro Hits Multi-Month High

The US dollar fell on Friday after data showed a surprise drop in retail sales, leading to multi-month highs for the euro and sterling.

Retail sales declined by 0.6% in July, following an unrevised 0.2% gain in June, while economists had forecasted a 0.1% increase.

Juan Perez, director of trading at Monex USA, stated that 'we are clearly having signs of poor consumption' and 'this evidence is clearly showing that there is an economic slowdown in the United States.'

The dollar index fell by 0.25% to 99.67, while the euro rose by 0.32% to $1.1564, reaching its highest level since June 17.