Investing.com - The dollar turned lower against other major currencies on Friday, after the release of disappointing U.S. economic reports and amid ongoing concerns over recent U.S. political events.
EUR/USD rose 0.20% to 1.0883, off a two-and-a-half week low of 1.0838 hit on Thursday.
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.
Meanwhile, markets were still jittery since U.S. President Donald Trump’s unexpected decision to fire FBI Director James Comey.
Comey had been leading his agency's investigation into alleged Russian meddling in the 2016 U.S. presidential campaign and possible collusion with Trump's campaign.
Investors were concerned the latest events in Washington could hamper the U.S. administration's ability to implement promised tax reform and stimulus measures.
In the euro zone, preliminary data earlier showed that German gross domestic product rose 0.6% in the first quarter, in line with market expectations and up from a growth rate of 0.4% in the three months to December.
Elsewhere, GBP/USD was down 0.13% at 1.2870.
USD/JPY edged down 0.27% to 113.55, pulling away from Thursday’s two-month high of 114.39, while USD/CHF fell 0.11% to 1.0067.
The Australian and New Zealand dollars were stronger, with AUD/USD up 0.46% at 0.7412 and with NZD/USD gaining 0.22% to trade at 0.6852.
Earlier Friday, data showed that the Business NZ Manufacturing Index slipped to 56.8 in April from 57.8 the previous month.
Meanwhile, USD/CAD held steady at 1.3693.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.20% at 99.33, pulling away from Thursday’s three-week high of 99.77.