The greenback tumbled sharply following a disappointing report on December retail sales, pushing the dollar lower against the Aussie to 0.9328 and the Canadian dollar to 1.0225. The December retail sales report missed expectations for an increase of 0.5%, instead declining by 0.3% versus an upwardly revised November reading of 1.8%. The excluding automobiles retail sales figure fell by 0.2% from a 1.9% reading previously. Weekly jobless claims edged up to 444k versus 433k in the previous week.
Economic reports slated for release on Friday include December CPI, Empire manufacturing survey, industrial production, capacity utilization and the University of Michigan consumer confidence survey.
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