Investing.com - The dollar pushed lower against other major currencies on Friday, as the release of disappointing U.S. economic reports and ongoing concerns over recent U.S. political events dampened demand for the greenback.
EUR/USD climbed 0.56% to 1.0924 after the U.S. Commerce Department said retail sales rose 0.4% in April, below expectations for a 0.6% gain.
Core retail sales, which exclude automobiles, increased by 0.3% last month, compared to expectations for a 0.5% rise.
A separate report showed that the U.S. consumer price index gained 0.2% in April, in line with expectations and compared to a 0.3% decline in the prior month.
Year-over-year, consumer prices increased 2.2% last month, below forecasts for a 2.3% rise.
Core CPI, which excludes food and energy, ticked up 0.1% in April, less than the expected 0.2% gain.
Investors shrugged off a preliminary report by the University of Michigan saying that its consumer sentiment index rose to 97.7 in April from 97.0 in the previous month. Analysts had forecast the reading to remain unchanged last month.
Markets were also still jittery since U.S. President Donald Trump’s unexpected decision to fire FBI Director James Comey.
Investors were concerned the latest events in Washington could hamper the U.S. administration's ability to implement promised tax reform and stimulus measures.
Elsewhere, GBP/USD was little changed at 1.2889, off a one-week low of 1.2845 hit earlier in the session.
USD/JPY declined 0.47% to 113.34, pulling further away from Thursday’s two-month high of 114.39, while USD/CHF slid 0.38% to 1.0041.
The Australian dollar remained stronger, with AUD/USD up 0.19% at 0.7392, while NZD/USD held steady at 0.6848.
Meanwhile, USD/CAD edged up 0.18% to trade at 1.3722 as a decline oil prices weighed on demand for the commodity-related loonie.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.42% at 99.12, the lowest since May 9.