Dollar broadly higher vs. rivals ahead of U.S. data

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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 with expectations.

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 0.8069.

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 81.11.

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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This article appears in: Investing , Forex and Currencies

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