The dollar fell the most in three weeks after retail sales gained less than forecast last month, fueling speculation the Federal Reserve is in no hurry to start raising interest rates.
The greenback snapped a six-day rally against the euro as a less-robust rebound in the consumer sector combined with below-forecast jobs growth to add to concern the slowdown in economic growth may reflect more than the harsh U.S. winter season. The U.S. currency almost reached a 12-year high Monday versus the 19-nation euro as investors look for clues on the timing of the first Fed rate increase since 2006.
The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, dropped 0.7 percent to 1,119.30 as of 2:14 p.m. New York time, reaching the lowest level on a closing basis since March 20.
The U.S. currency dropped 0.9 percent to $1.0665 per euro. It strengthened to $1.0458 on March 16, the strongest since January 2003. The currency fell 0.7 percent to 119.30 yen.
Source : Bloomberg