Dollar Holds Near 2-Week Lows with U.S. Data on Tap By Investing.com
Investing.com – The U.S. dollar held steady near two-week lows against other major counterparts on Friday, as investors remained cautious ahead of a highly-anticipated U.S. inflation report due later in the day.
The greenback had broadly strengthened after the U.S. Department of Labor reported on Thursday that initial jobless claims fell more than expected to last week.
A separate report showed that producer prices increased in September, in line with expectations. Core producer prices, which exclude food and energy also rose , beating expectations for a 0.2% uptick.
The data came a day after the of the Federal Reserve’s September policy meeting showed that policymakers .
Market participants were looking ahead to the highly-anticipated , as well as a report on set to be released later Friday.
held steady at 1.1831, while gained 0.32% to trade at two-week high of 1.3303.
The pound was boosted by reports by German newspaper Handelsblatt on Thursday that the U.K. could stay in the European Union for another two years.
The newspaper indicated that the EU’s offer is tied to the U.K. meeting all of its obligations as a member country, but giving up its voting rights.
Sterling had initially dropped after EU chief negotiator Michel Barnier announced on Thursday that
Meanwhile, European Central Bank President Mario Draghi reiterated in a speech on Thursday that the ECB’s until officials see a sustained improvement in the outlook for inflation.
Draghi added that interest rates would remain at current levels “well past” the time the central bank stops buying assets.
Elsewhere, slipped 0.14% to 112.12, while held steady at 0.9751.
The Australian and New Zealand dollars were stronger, with up 0.19% at 0.7836 and with rising 0.22% to trade at 0.7142 after data earlier showed that China’s imports increased by last month, beating expectations, while exports rose less than expected by .
China is Australia’s biggest export partner and New Zealand’s second biggest export partner.
The Canadian dollar was little changed, with at 1.2472.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 92.89 by 05:20 a.m. ET (09:20 GMT), not far from the previous session’s two-week trough of 92.64.
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