Dollar mixed vs major currencies as retail sales post gain but miss economists’ expectations

Dollar mixed on retail sales report

NEW YORK — The dollar was mixed against major currencies Friday as U.S. retail sales posted a gain after two months of declines but missed economists’ expectations.

The euro, which is used by 16 European countries, fell to $1.2755 from $1.2824 late Thursday, while the British pound edged up to $1.5588 from $1.5569. The dollar rose to 86.24 Japanese yen.

The dollar has climbed in recent days as worries over growth in the U.S. and elsewhere weighs on investors’ appetite for risk and increases demand for traditional safe havens such as the dollar.

The Commerce Department said Friday that retail sales rose 0.4 percent in July. That was an improvement after two months of sales declines, but fell just below economists’ forecast of a gain of 0.5 percent.

The report did show strength in auto sales, but it also showed that consumers are shying away from other purchases.

Consumer spending has remained weak along with the labor market, and there are no signs that employers are ready to start hiring at a pace to help lift the economy.

In other late trading Friday, the dollar rose to 1.0539 Swiss francs from 1.0513 francs, but slipped to 1.0424 Canadian dollars from 1.0444 Canadian dollars.