Published Oct 25, 2013 03:45PM ET
Investing.com - The dollar moved flat to lower against most major currencies on Friday through it trimmed earlier losses as bottom fishers viewed the greenback as oversold after a soft consumer sentiment report weakened the currency earlier.
In U.S. trading on Friday, EUR/USD was up 0.06% at 1.3809.
The Thomson Reuters/University of Michigan final consumer sentiment index for October fell to 73.2 from 75.2 in September, worse than expectations for a downtick to 75.0.
The report added that inflation expectations ticked up to 3.0% in October, from 2.9% the previous month.
The data came after the Census Bureau said that U.S. core durable goods orders, which exclude transportation items, fell 0.1% in September, defying expectations for a 0.5% rise after a 0.1% decline the previous month.
Broad U.S. durable goods orders rose 3.7% last month, exceeding expectations for a 2.0% increase after a 0.1% rise in August.
Friday's lackluster data, which came in wake of weak labor-market data earlier this week, kept expectations going for the Federal Reserve to continue stimulating the economy with its USD85 billion in monthly bond purchases that drive down interest rates to spur recovery, weakening the greenback in the process.
The dollar, however, eventually reached levels that brought in the bottom fishers late Friday.
In the euro zone earlier, the Ifo Institute for Economic Research reported that Germany's business climate index fell to 107.4 in October from 107.7 in September, defying expectations for a rise to 108.0.
The data sent investors selling the euro for profits though the weak indicators in the U.S. sent the euro back into positive territory in late-session trading on Friday.
The greenback was up against the pound, with GBP/USD down 0.14% at 1.6178.
In the U.K., preliminary data earlier showed that the U.K. gross domestic product rose 0.8% in the third quarter, in line with expectations and up from 0.7% in the previous quarter.
The dollar was up against the yen, with USD/JPY up 0.09% at 97.37, and down against the Swiss franc, with USD/CHF down 0.03% at 0.8921.
The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.31% at 1.0453, AUD/USD down 0.41% at 0.9583 and NZD/USD trading down 0.86% at 0.8283.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.03% at 79.23.
Written By: Investing.com
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