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Dollar falls on weak retail sales data

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[July 17, 2012]  NEW YORK (AP) -- The dollar is falling against most major currencies after the government reported that Americans spent less last month.

The Commerce Department said retail sales fell 0.5 percent in June from May. It was the third straight monthly drop, which worried investors because it's the first time that has happened since the height of the financial crisis in 2008.

The euro rose to $1.2253 in afternoon trading Monday from $1.2241 late Friday. The British pound rose to $1.5623 from $1.5570.

The dollar fell to 78.82 Japanese yen from 79.27 yen and to 0.9795 Swiss franc from 0.9812 Swiss franc.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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