Thu, 30 Mar 2023

U.S. dollar rises after inflation data

28 Jan 2023, 07:30 GMT+10

NEW YORK, Jan. 27 (Xinhua) -- The U.S. dollar inched higher in late trading on Friday after a key U.S. inflation measure showed signs of easing.

The dollar index, which measures the greenback against six major peers, increased 0.09 percent to 101.9240.

In late New York trading, the euro was down to 1.0869 U.S. dollars from 1.0889 dollars in the previous session, and the British pound decreased to 1.2394 U.S. dollars from 1.2407 dollars in the previous session.

The U.S. dollar bought 129.92 Japanese yen, lower than 130.21 Japanese yen of the previous session. The U.S. dollar climbed to 0.9212 Swiss francs from 0.9198 Swiss francs, and it decreased to 1.3302 Canadian dollars from 1.3334 Canadian dollars. The U.S. dollar rose to 10.3066 Swedish Kronor from 10.2691 Swedish Kronor.

The U.S. Commerce Department reported Friday that the U.S. Personal Consumption Expenditures price index excluding food and energy, the Fed's preferred measure of inflation, increased 4.4 percent year on year in December, down from the 4.7-percent reading in November and roughly in line with market consensus. The print was the slowest annual rate of increase since October 2021.

U.S. consumer sentiment index rose to 64.9 in January, up from 59.7 in December, according to a survey released by the University of Michigan.

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