Greenback Mixed Against Majors Amid Reuters/UofM Consumer Sentiment Index And Business Inventories Data
The US currency showed mixed performance against major currencies after the release of Reuters/UofM consumer sentiment index and business inventories reports in New York morning deals on Friday.
According to a report released by Reuters and the University of Michigan today, the consumer sentiment saw an improvement in the month of August, with their consumer sentiment index rising roughly in line with economist estimates.
The report showed that the consumer sentiment index rose to a reading of 69.6 in August from the final July reading of 67.8. Economists had been expecting the index to increase to a reading of 70.0.
The Commerce Department said that business inventories increased by 0.3 percent in June following an upwardly revised 0.2 percent increase in May. Economists had expected inventories to increase by 0.2 percent compared to the 0.1 percent increase originally reported for the previous month.
Against its British and Japanese counterparts, the buck traded lower and presently trading near 1.5618 and 85.86, respectively.
At the same time, the dollar traded higher against the Swiss franc and the euro at around 10:20 am ET and as of now at 1.2769 and 1.0535, respectively.
