Investing.com - The dollar remained broadly higher against the
other major currencies on Friday, despite the release of
disappointing U.S. consumer sentiment data, while markets continued
to focus on developments in Iraq.
The dollar was steady against the euro, with EUR/USD down 0.07%
In a preliminary report, the University of Michigan said its
consumer sentiment index fell to 81.2 this month from 81.9 in May,
whose figure was revised up from a previously estimated reading of
81.8. Analysts had expected the index to rise to 83.0 in June.
Earlier Friday, official data showed that U.S. producer price
inflation fell 0.2% in May, confounding expectations for a 0.1%
rise, after a 0.6% increase the previous month.
Core producer price inflation, which excludes food, energy and
trade, slipped 0.1% last month, compared to expectations for an
increase of 0.1%, after a 0.5% rise in April.
Meanwhile, market sentiment remained under pressure after U.S.
President Barack Obama warned of possible military strikes in Iraq
after a rebellion led by a Sunni Islamist group continued to spread
rapidly through the country.
The pound was higher against the dollar, with GBP/USD adding
0.18% to 1.6958.
The dollar was higher against the yen and the Swiss franc, with
USD/JPY rising 0.34% to 102.05 and with USD/CHF edging up 0.11% to
At its monthly policy-setting meeting, the BoJ said it will
continue to expand the monetary base at a pace of ¥60 trillion to
¥70 trillion per year, in a widely expected move.
BoJ Governor Haruhiko Kuroda had said last week that the central
bank's easing measures are having the intended effects and are
leading to an improvement in the economy.
The greenback was steady to higher against the Australian, New
Zealand and Canadian dollars, with AUD/USD down 0.40% to 0.9388,
NZD/USD sliding 0.41% to 0.8652 and USD/CAD easing up 0.07% to
Official data showed that manufacturing sales in Canada declined
0.1% in April, disappointing expectations for an increase of 0.9%,
after a downwardly revised 0.3% rise in March.
In New Zealand, data earlier showed that the business
manufacturing index fell to 52.7 in May, from a reading of 54.4 in
April, whose figure was revised down from a previously estimated
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was up
0.03% to 80.62.
Also Friday, official data showed that industrial production in
China rose at an annual rate of 8.8% last month, in line with
expectations, after an increase of 8.7% in April. The upbeat data
eased concerns over a slowdown in the world's second biggest
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