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1st LD Writethru: U.S. dollar drops ahead of major data

Xinhua, June 10, 2015 Adjust font size:

The U.S. dollar dropped against most major currencies on Tuesday ahead of the country's closely- watched retail sales report due out Thursday.

Soft retail sales in recent months have raised concerns about the recovery of U.S. economy, dampening market expectation for the central bank to lift interest rates before September. Investors were awaiting the retail sales figure for May to get more clues of the timing of the rate hike.

The dollar index, which measures the greenback against six other major peers, went down 0.14 percent at 95.162 in late trading.

Meanwhile, investors kept an eye on Greece debt crisis. Greece tabled two supplementary proposals to international lenders for a debt deal as efforts continued to avert financial meltdown in coming weeks, Greek government sources said on Tuesday.

Last Friday, Athens failed to repay a 300 million euros (333 million U.S. dollars) loan installment to the International Monetary Fund (IMF) and requested a delay in the repayment.

In late New York trading, the euro rose to 1.1280 dollars from 1.1276 dollars in the previous session, and the British pound climbed to 1.5375 dollars from 1.5334 dollars in the previous session. The Australian dollar went down to 0.7682 dollars from 0. 7696 dollars.

The U.S. dollar bought 124.35 Japanese yen, lower than 124.61 yen of the previous session. The U.S. dollar inched up to 0.9310 Swiss francs from 0.9293 Swiss francs, and it decreased to 1.2337 Canadian dollars from 1.2408 Canadian dollars. Endite