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U.S. dollar positive factors after PPI report

NEW YORK, Aug. 11 (Xinhua) — The U.S. dollar rose on Friday, because the Producer Price Index (PPI) for remaining demand within the United States in July was barely greater than anticipated.

The dollar index, which measures the buck towards six main friends, elevated 0.31 % to 102.8426 in late buying and selling.

The July PPI elevated 0.8 % on a yearly foundation, up from the 0.1 % enhance recorded in June, based on the information printed by the U.S. Bureau of Labor Statistics on Friday. This studying got here in barely greater than the market expectation of 0.7 %.

“The PPI data shows that the inflation monster is still lingering but investors can see progress in the things that come under consumer price index (CPI),” stated David Russell, vp of market intelligence at TradeStation.

The U.S. Treasury yield on the two-year word, which strikes in step with near-term rate of interest expectations, climbed to 4.88 %, boosting the U.S. dollar.

Meanwhile, the University of Michigan client sentiment index edged all the way down to 71.2 in August, barely exceeding the 71.0 consensus, from 71.6 in July.

“Sentiment is now about 42 percent above the all-time historic low in last June and is approaching the historical average reading of 86,” stated Surveys of Consumers Director Joanne Hsu on the University of Michigan.

In late New York buying and selling, the euro fell to 1.0950 U.S. {dollars} from 1.0990 {dollars} within the earlier session, and the British pound elevated to 1.2696 U.S. {dollars} from 1.2691 {dollars}.

The U.S. dollar purchased 144.9670 Japanese yen, greater than 144.7080 Japanese yen of the earlier session. The U.S. dollar rose to 0.8763 Swiss francs from 0.8760 Swiss francs, and it was as much as 1.3449 Canadian {dollars} from 1.3421 Canadian {dollars}. The U.S. dollar rose to 10.8314 Swedish Krona from 10.6760 Swedish Krona.