NEW YORK, Nov. 15 (Xinhua) — The U.S. dollar weakened in late buying and selling on Tuesday as market members digested the newly-released October U.S. producer worth index (PPI) report.
The dollar index, which measures the buck in opposition to six main friends, fell 0.24 p.c to 106.4070.
In late New York buying and selling, the euro was as much as 1.0365 U.S. {dollars} from 1.0354 {dollars} within the earlier session, and the British pound elevated to 1.1873 U.S. {dollars} from 1.1779 {dollars} within the earlier session.
The U.S. dollar purchased 139.13 Japanese yen, decrease than 139.88 Japanese yen of the earlier session. The U.S. dollar rose to 0.9424 Swiss francs from 0.9415 Swiss francs, and it fell to 1.3285 Canadian {dollars} from 1.3286 Canadian {dollars}. The U.S. dollar was as much as 10.4530 Swedish Kronor from 10.4512 Swedish Kronor.
The U.S. Labor Department reported Tuesday that the nation’s PPI, a measure of wholesale inflation, rose 0.2 p.c in October, beneath the 0.4 p.c consensus. On a year-over-year foundation, PPI rose 8 p.c in comparison with an 8.4 p.c improve in September.
The report got here after information launched final week displaying a smaller-than-expected improve in October U.S. client inflation.
While indicators of enchancment in U.S. inflation raised the percentages for a smaller hike in Federal Reserve’s December assembly, it is untimely to conclude a dovish Fed pivot is on the way in which, consultants famous.