Investing.com - The dollar pushed higher against the other major currencies on Friday, after the release of upbeat U.S. retail sales data boosted optimism over the strength of the ecomomy.
The U.S. Commerce Department said retail sales increased by 1.3% last month, compared to expectations for a rise of 0.8%. Retail sales for March dropped 0.3%, whose figure was revised up from an initial 0.4% decline.
Core retail sales, which exclude automobile sales, increased by 0.8% in April, beating forecasts for an advance of 0.5%.
A separate report showed that U.S. producer price inflation rose by 0.2% in April, compared to expectations for a 0.3% gain, after a 0.1% slip the previous month. Year-on-year, producer prices were flat.
Core PPI, which excludes food and energy, ticked up 0.1% last month, in line with expectations.
EUR/USD slid 0.41% to 1.1329.
The euro weakened after official data showed that the single currency bloc’s gross domestic product rose to 0.5% in the first quarter, from 0.3% in the preceding quarter.
That was below the initial reading of 0.6% released on April 29 and consensus that was expecting no change.
Year-on-year, GDP in the single currency bloc rose 1.5%, also below the initial estimate, the fourth quarter reading and analyst forecasts for growth of 1.6%.
USD/JPY edged up 0.15% at 109.18.
Bank of Japan Governor Haruhiko Kuroda said on Friday that the central bank will act "decisively" to achieve its 2% inflation target, stressing that it still has "ample" policy options available if it were to expand stimulus again.
The dollar was higher the pound and the Swiss franc, with GBP/USD down 0.55% at 1.4413 and with USD/CHFgaining 0.41% to 0.9743.
The Australian and New Zealand dollars were lower, with AUD/USD down 0.75% at 0.7272 and with NZD/USD declining 0.63% to 0.6777.
Earlier Friday, Statistics New Zealand said retail sales rose 0.8% in the first quarter, disappointing expectations for an increase of 1.0%, after a 1.2% gain in the three months to December.
Core retail sales, which exclude automobiles and gas stations, increased by 1.0% in the last quarter, below expectations for a 1.1% rise and after a revised 1.3% gain in the fourth quarter of 2015.
Elsewhere, USD/CAD climbed 0.55% to trade at 1.2912.
The commodity-related loonie weakened as oil prices moved lower on Friday, after Russia warned that a global crude supply glut could last into next year.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.56% at 94.62, the highest since April 27.