Investing.com - " The dollar was little changed against the
other major currencies on Friday, after the release of tepid U.S.
economic reports as growing speculation that the Federal Reserve
will refrain from tapering its stimulus program this year continued
to weigh on the greenback.
During U.S. morning trade, the dollar was steady against the yen,
with USD/JPY inching 0.07% higher to 97.35.
In a revised report, the Universtiy of Michigan said its consumer
sentiment index fell to 73.2 this month, from a reading of 75.2 in
September, compared to expectations for a downtick to 75.0.
The University of Michigan also said 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, confounding expectations for a 0.5% rise, after a 0.1%
decline the previous month.
U.S. durable goods orders rose 3.7% last month, exceeding
expectations for a 2% increase, after a 0.1% rise in August.
The dollar came under broad selling pressure this week after
disappointing U.S. employment reports added to expectations that
the Fed will delay tapering its stimulus program until next year
amid concerns over the impact of the 16-day U.S. government
shutdown on the economic recovery.
On Thursday, the U.S. Department of Labor said the number of
individuals filing for initial jobless benefits declined by a lower
than expected 12,000 last week to 350,000, while a separate report
earlier in the week showed that U.S. jobs growth slowed in
In Japan, official data earlier showed that the Tokyo core consumer
price index, which excludes fresh food, rose by an annualised rate
of 0.3% in October, in line with expectations, after a 0.2% rise
the previous month.
The euro was little changed against the dollar, with EUR/USD easing
up 0.03% to 1.3803.
In the euro zone, the Ifo Institute for Economic Research said
Germany's business climate index fell to 107.4 in October, from a
reading of 107.7 the previous month, confounding expectations for a
rise to 108.0.
The dollar was higher against the pound and the Swiss franc, with
GBP/USD edging down 0.24% to 1.6162, and with USD/CHF rising 0.15%
to hit 0.8937.
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.
Elsewhere, the greenback was broadly higher against its Australian,
New Zealand and Canadian counterparts, with AUD/USD shedding 0.35%
to 0.9588, NZD/USD retreating 0.72% to trade at 0.8293 and USD/CAD
up 0.24% to 1.0444.
The dollar index, which tracks the performance of the greenback
versus a basket of six other major currencies, was up 0.06% to
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