US dollar edges higher after PPI data

US dollar edges higher after PPI data

NEW YORK, Dec. 9 (Xinhua) — The U.S. dollar rose slightly in late trade on Friday after U.S. producer inflation turned warmer than expected.

The U.S. producer price index (PPI) rose 0.3 percent in November, above the 0.2 percent consensus, for a 7.4 percent annual increase, the Labor Department reported on Friday.

PPI excluding food, energy and trade services rose 0.3 percent, also topping market estimates.

The dollar index, which measures the greenback against six major peers, rose 0.03 percent to 104.8100 in late trade.

In late New York trading, the euro fell to US$1.0547 from US$1.0561 in the previous session, and the British pound rose to US$1.2270 from US$1.2242 in the previous session.

The US dollar bought 136.49 Japanese yen, down from 136.69 Japanese yen from the previous session. The US dollar was down to 0.9337 Swiss francs from 0.9364 Swiss francs, and it rose to 1.3625 Canadian dollars from 1.3583 Canadian dollars. The US dollar was down to SEK 10.3124 from SEK 10.3313.

Source: sn.dk


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