Dollar gains on upbeat U.S. producer price index
Published Apr 11, 2014 03:48PM ET
Dollar gains as U.S. economy continues to improve
Investing.com - The dollar traded mixed to higher against most major currencies on Friday after U.S. consumer sentiment and wholesale pricing reports beat expectations.
In U.S. trading on Friday, EUR/USD was down 0.03% at 1.3883.
Upbeat U.S. indicators supported the greenback on Friday.
The preliminary Thomson Reuters/University of Michigan consumer sentiment index came to 82.6 in April, beating expectations for a 81.0 reading.
Separately, official data showed that the U.S. producer price index rose 0.5% in March, exceeding expectations for a 0.1% gain, after a 0.1% fall the previous month.
Core producer price inflation, which is stripped of volatile food, energy and trade items, rose 0.6% in March, beating expectations for a 0.2% rise after a 0.2% decline in February.
Still, growing market consensus that the Federal Reserve is nowhere close to tightening policy watered down the greenback's gains.
Meanwhile across the Atlantic, the euro saw some support after Greece made a successful return to the financial markets on Thursday, raising €3 billion in its first bond auction since 2010, when Athens sought its first bailout.
The dollar was up against the yen, with USD/JPY up 0.07% at 101.61, and down against the Swiss franc, with USD/CHF down 0.10% at 0.8757.
The greenback was up against the pound, with GBP/USD down 0.28% at 1.6737.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.35% at 1.0974, AUD/USD down 0.18% at 0.9397 and NZD/USD up 0.10% at 0.8689.
The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.09% at 79.55.
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Written By: Investing.com
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