India, March 17 -- The U.S. dollar fell against its most major counterparts in the New York session on Monday, following the release of weak retail sales data that boosted Fed rate cut expectations.
Data from the Commerce Department showed that retail sales rose by 0.2 percent in February after tumbling by a revised 1.2 percent in January.
Economists had expected retail sales to climb by 0.7 percent compared to the 0.9 percent slump originally reported for the previous month.
Excluding a decrease in sales by motor vehicle and parts dealers, retail sales increased by 0.3 percent in February after falling by 0.6 percent in January. Ex-auto sales were expected to rise by 0.5 percent.
The Federal Reserve is scheduled to announce its interes...