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U.S. dollar retreats amid PPI data

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NEW YORK, Sept. 14 (Xinhua) — The U.S. dollar weakened in late trading on Wednesday as traders digested the August U.S. producer price index (PPI) report.

The dollar index, which measures the greenback against six major peers, fell 0.14 percent to 109.6580.

In late New York trading, the euro rose to 0.9982 U.S. dollars from 0.9979 dollars in the previous session, and the British pound rose to 1.1541 U.S. dollars from 1.1503 dollars in the previous session. The Australian dollar increased to 0.6740 U.S. dollars from 0.6738 dollars.

The U.S. dollar bought 143.15 Japanese yen, lower than 144.37 Japanese yen of the previous session. The U.S. dollar rose to 0.9632 Swiss francs from 0.9607 Swiss francs, and it was up to 1.3177 Canadian dollars from 1.3154 Canadian dollars.

The U.S. Labor Department reported Wednesday that the country’s PPI, which measures costs for goods at the factory gate, dipped 0.1 percent in August, largely due to cheaper gasoline prices. The reading was roughly in line with market expectations.

On an unadjusted basis, the headline index rose 8.7 percent year on year, down from 9.8 percent in July, showed the report.

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