US dollar falls amid rising British pound

The US dollar decreased in late trading on Friday, amid a stronger British pound, which was lifted by upbeat British retail sales data in the first quarter, signalling robust economic growth for the country.

In late New York trading, the euro increased to $1.1245 from $1.1230 in the previous session, and the British pound rose to $1.2994 from $1.2988 in the previous session, Xinhua news agency reported.

The Australian dollar increased to $0.7148 from $0.7146.

The US dollar bought 111.93 Japanese yen, lower than 111.94 Japanese yen of the previous session. The US dollar decreased to 1.0143 Swiss francs from 1.0153 Swiss francs, and it was unchanged at close to 1.3386 Canadian dollars from 1.3386 Canadian dollars.

In the three months to March 2019, the quantity bought in retail sales in Britain increased by 1.6 per cent when compared with Quarter 4, 2018, following sustained growth throughout the first three months of the year, said the Office for National Statistics on Thursday.

Separately, year-on-year growth in the quantity bought increased by 6.7 per cent in March, the highest since October 2016, with a range of stores noting that the milder weather this year helped boost sales, according to the British independent producer of official statistics.

The dollar index, which measures the greenback against six major peers, decreased 0.09 per cent at 97.3650 in late trading.

--IANS

pgh/