Investing.com | Sep 14, 2018 16:30
Investing.com - The U.S. dollar rose against other currencies on Friday after falling near two-and-a-half week lows while the euro and sterling fell.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rallied 0.23% to 94.75 as of 11:00 AM ET (15:00 GMT).
U.S. retail sales barely registered any gains in August, while import prices dropped. Data on Thursday showed that consumer prices in the U.S. rose less than expected in August, increasing 0.2% compared to expectations of a gain of 0.3%.
Meanwhile trade talk efforts between the U.S. and China cooled after U.S. President Donald Trump tweeted that the country “was under no pressure to make a deal with China.” Talks over a revised North American Free Trade Agreement (NAFTA) with Canada also made no progress, as the Minister of Foreign Affairs of Canada said she would continue talks until at least Monday.
The weak data increased concerns that the Federal Reserve could be less hawkish. Still, investors are expecting the Fed to raise rates at its policy meeting next week, while chances of an increase in December were at 84.2%.
The Turkish lira was down after surging on Thursday after the country’s central bank raised interest rates more than expected. USD/TRY rose 1.31% to 6.1468.
Elsewhere, the dollar rose against the safe-haven yen, with USD/JPY increasing 0.13% to 112.07. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion. The Australian dollar was lower, with AUD/USD down 0.21% to 0.7180, while NZD/USD fell 0.09% to 0.6563.
Written By: Investing.com
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