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
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.