Dollar edges lower vs. euro, yen but remains supported
Investing.com
Published Nov 27, 2015 02:32AM ET
Dollar slips lower but remains broadly stronger in quiet trade
Investing.com - The dollar edged lower but remained broadly supported against the euro and the yen on Friday, amid growing expectations for a December rate hike in the U.S. and as trading volumes were expected to remain thin for the Thanksgiving holiday weekend.
EUR/USD edged up 0.14% to 1.0626, still very close to Wednesday's session's seven-month trough of 1.0564.
The greenback remained broadly supported after a string of upbeat U.S. data released over the week added to expectations that the Federal Reserve will raise interest rates next month.
However, the euro's gains were held in check since European Central Bank President Mario Draghi signaled last week that the bank is ready to act quickly to boost inflation in the euro zone and can also change the level of its deposit rate to boost the impact of quantitative easing.
USD/JPY slipped 0.16% to trade at 122.37.
In Japan, data on Friday showed that household spending fell 0.7% in October, compared to expectations for an increase of 1.1% and after a 1.3% drop the previous month.
A separate report showed that Tokyo's consumer price index rose by an annual rate of 0.2% in November, in line with expectations.
Core CPI, which excludes fresh food, in Tokyo was flat this month, compared to expectations for a 0.1% downtick.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 99.81, just below Wednesday's eight-month peak of 100.21.
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Written By: Investing.com
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