Investing.com - The U.S. dollar was broadly higher against the
other major currencies on Friday, as investors awaited the release
of U.S. data later in the day, after Thursday's economic reports
boosted expectations that the Federal Reserve will unwind its asset
purchase program later this year.
During European morning trade, the dollar was higher against the
euro, with EUR/USD retreating 0.41% to 1.3319.
Official data showed that consumer price inflation in the euro zone
remained unchanged in May at an annualized rate of 1.4%, in line
Core consumer price inflation, which excludes food, energy, alcohol
and tobacco rose to an annualized rate of 1.2% last month, from 1%
the previous month, in line with expectations.
The greenback was also higher against the pound, with GBP/USD
dropped 0.59% to 1.5627.
Elsewhere, the greenback was lower against the yen, with USD/JPY
slipping 0.23% to trade at 95.15, but higher against the Swiss
franc, with USD/CHF adding 0.24% to 0.9244.
The yen gained ground against the dollar after Bank of Japan
policymakers said the bank should specify a two-year limit for its
monetary easing to help quell bond-market volatility, according to
the minutes of the BoJ's May 21-22 meeting.
The greenback was higher against its Canadian, Australian and New
Zealand counterparts, with USD/CAD inching up 0.06% to 1.0163,
AUD/USD sliding 0.30% to 0.9611 and NZD/USD shedding 0.35% to
Data showed that the Business New Zealand Manufacturing Index rose
to 59.2 in May, from a reading of 55.2 the previous month.
The dollar index, which tracks the performance of the greenback
versus a basket of six other major currencies, was up 0.28% to
Later in the day, the U.S. was to publish data on producer price
inflation, industrial production, the capacity utilization rate,
the current account and preliminary data from the University of
Michigan on consumer sentiment.
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