Dollar pares gains after US retail sales miss expectations in May

New York, June 18 (BNA): The dollar pared gains against the euro on Tuesday after retail sales data indicated signs of exhaustion among U.S. consumers, boosting the case for Federal Reserve rate cuts later this year.

 U.S. retail sales increased less than expected in May as lower prices for gasoline and motor vehicles weighed on receipts at service stations and auto dealerships, Reuters reported.

The euro was 0.07% lower at $1.0727, having slipped as low as $1.071 earlier in the session.

Against a basket of currencies, the dollar was up 0.1% at 105.40.


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