Dollar rises on positive US retail sales data

AP News
Posted: Aug 14, 2012 12:35 PM

NEW YORK (AP) — The dollar is rising against most major currencies after the government said Americans spent more at retailers last month.

The Commerce Department said that retail sales rose 0.8 percent in July from June, the largest amount in five months. The increase comes after three months of declines, including a 0.7 percent drop in sales in June.

The euro fell to $1.2328 in midday trading from $1.2336 late Monday. The British pound fell to $1.5681 from $1.5689.

The dollar rose to 78.79 Japanese yen from 78.35 yen and to 0.9741 Swiss franc from 0.9737 Swiss franc.