The U.S. dollar shed ground against its major counterparts on Thursday after data showing a bigger than expected drop in retail sales in the month of January raised the possibility of an interest rate cut in June.
The Commerce Department report said retail sales slid by 0.8% in January after climbing by a downwardly revised 0.4% in December. Economists had expected retail sales to edge down by 0.1% compared to the 0.6% increase originally reported for the previous month.
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Forex News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.