US: Retail sales increased by 0.4% in June vs 0.1% expected, DXY climbs above 97.30
|- Retail sales in the U.S. grew more than expected in June.
- Greenback gathers strength on the back of the data.
The monthly data published by the U.S. Census Bureau today revealed that retail sales in June increased by 0.4% on a monthly basis in June and came in better than the market expectation of 0.1%. Other data from the U.S. revealed that import prices on a yearly basis declined by 2% and export prices fell 1.6% in the same period.
With the initial reaction, the US Dollar Index, which tracks the greenback's value against a basket of six major currencies, extended its daily recovery and was last seen up 0.4% on a daily basis at 97.32.
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