Dollar pulls back after US retail sales miss
US Retail Sales unexpectedly fell in August, as Hurricane Harwey impacted motor vehicles sales, restrained overall retail sales.
Retail sales m/m dropped 0.2% in August, following downward-revised rise of 0.3% in July and also missing 0.1% forecast.
Core retail sales rose by 0.2%, falling below 0.5% forecast and downward-revised 0.4% rise in July.
Auto sales dropped 1.6% in August, marking the biggest drop since January, following unchanged reading in July.
Weaker than expected retail sales numbers would be probably another obstacle for Fed on rate hike decision.
The dollar was weaker against its major counterparts after release. The Dollar Index hit fresh session low at 91.49 (the lowest since Monday); the Euro spiked near 1.2000 barrier, while the greenback pulled back against Japanese yen after hitting fresh 1 ½ month high at 111.32.