US dollar falls amid rising sterling

21 April, 2019 12:00 AM printer

NEW YORK: U.S. dollar decreased in late trading on Friday, amid a stronger British pound, which was lifted by upbeat British retail sales data in the first quarter, signaling robust economic growth for the country.

In the three months to March 2019, the quantity bought in retail sales in Britain increased by 1.6 percent when compared with Quarter 4, 2018, following sustained growth throughout the first three months of the year, said the Office for National Statistics on Thursday.

Separately, year-on-year growth in the quantity bought increased by 6.7 percent in March, the highest since October 2016, with a range of stores noting that the milder weather this year helped boost sales, according to the British independent producer of official statistics, reports Xinhua.