US dollar edges higher amid economic statistics

US dollar edges higher amid economic statistics

NEW YORK, Jan. 18 (Xinhua) — The U.S. rose modestly in late trade on Wednesday as market participants digested a flurry of economic data.

The dollar index, which measures the greenback against six major peers, added 0.004 percent to 102.3810.

In late New York trading, the was up at US$1.0795 from US$1.0794 in the previous session, and the British pound was up at US$1.2342 from US$1.2278 in the previous session.

The US dollar bought 128.75 , higher than 128.30 Japanese yen from the previous session. The US dollar fell to 0.9163 Swiss francs from 0.9219 Swiss francs and it rose to 1.3490 Canadian dollars from 1.3381 Canadian dollars. The US dollar weakened to SEK 10.3303 from SEK 10.4095.

On the economic front, at U.S. fell 1.1 percent in December as Americans braced for a slowing , according to data released Wednesday by the Commerce Department.

Meanwhile, the US Department reported that the country’s producer index fell 0.5 percent last month, another sign that inflationary pressures have eased. Economists polled by had predicted a 0.1 percent decline.

Source: sn.dk

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