New Economic data benefits US Dollar

Source :Sify
Author :Finance Desk
Last Updated: Wed, Oct 14th, 2020, 10:53:45hrs
US Dollar

New York: The US dollar strengthened in late trading on Tuesday as market participants pored through newly-released economic data.

The dollar index, which measures the greenback against six major peers, was up 0.50 per cent at 93.5329.

In late New York trading, the euro fell to $1.1744 from $1.1810 dollars in the previous session, and the British pound decreased to $1.2933 from $1.3063 in the previous session. The Australian dollar was down to $0.7153 from $0.7212, according to agencies.

The US dollar bought 105.49 Japanese yen, higher than 105.34 Japanese yen of the previous session. The US dollar rose to 0.9145 Swiss franc from 0.9093 Swiss franc, and it was up to 1.3140 Canadian dollars from 1.3114 Canadian dollars.

On the data front, US Consumer Price Index increased 0.2 per cent in September on a seasonally adjusted basis after rising 0.4 per cent in August, the US Bureau of Labor Statistics reported Tuesday. The reading was roughly in line with market consensus.

The index for all items less food and energy rose 0.2 per cent in September after larger increases in July and August, said the report.

*With inputs from IANS.