NEW YORK, March 31 (Xinhua) — The U.S. dollar strengthened in late trade on Friday as market participants digested a key U.S. inflation report.
The dollar index, which measures the greenback against six major peers, rose 0.35 percent to 102.5107.
In late New York trading, the euro fell to US$1.0853 from US$1.0904 in the previous session, and the British pound fell to US$1.2336 from US$1.2388 in the previous session.
The US dollar bought 132.71 Japanese yen, higher than 132.44 Japanese yen from the previous session. The US dollar was up to 0.9143 Swiss francs from 0.9138 Swiss francs, and it rose to 1.3530 Canadian dollars from 1.3519 Canadian dollars. The US dollar was up to SEK 10.3730 from SEK 10.3649.
The U.S. personal consumption expenditures (PCE) price index rose 0.3 percent in February, in line with consensus, for a 5 percent increase from a year earlier, the Commerce Department reported Friday.
Core PCE inflation, which excludes food and energy, rose 0.3 percent, slightly below the 0.4 percent consensus, for a 4.6 percent increase from a year earlier.
“Overall, this report is good news after January’s alarming re-acceleration, but market focus will shift to the March jobs report next week and the two inflation reports ahead of the Fed’s May meeting,” said Chris Low, chief economist at FHN Financial. in a note on Friday.
Source: sn.dk