NEW YORK, Feb. 24 (Xinhua) — The U.S. dollar rose sharply in late trade on Friday as the Federal Reserve’s preferred inflation gauge turned warmer than expected.
The dollar index, which measures the greenback against six major peers, rose 0.6 percent to 105.2157.
In late New York trading, the euro fell to US$1.0551 from US$1.0596 in the previous session, and the British pound fell to US$1.1946 from US$1.2017 in the previous session.
The US dollar bought 136.39 Japanese yen, higher than 134.64 Japanese yen from the previous session. The US dollar rose to 0.9404 Swiss francs from 0.9335 Swiss francs, and it was up to 1.3604 Canadian dollars from 1.3547 Canadian dollars. The US dollar rose to SEK 10.4959 from SEK 10.4303.
The U.S. Commerce Department reported on Friday that the U.S. personal consumption expenditures (PCE) price index rose 0.6 percent in January, up 5.4 percent from a year earlier. Core PCE inflation, which excludes food and energy, rose 0.6 percent for a 4.7 percent increase from a year earlier. The readings were higher than estimates.
Source: sn.dk