The Australian dollar dropped today after retail sales rose less than was expected.
The Australian Bureau of Statistics reported that retail sales rose 0.1% in May from April after falling at the same rate in the previous month. Market participants were counting on a slightly bigger increase by 0.2%.
AUD/USD slipped from 0.7028 to 0.7023 as of 11:33 GMT today, retreating after the rally to the daily high of 0.7047. EUR/AUD gained from 1.6042 to 1.6070.
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Australian Dollar Falls After Retail Sales Miss Expectations
