Wed, 28 Oct 2020

U.S. dollar edges down amid economic data

Xinhua
19 Sep 2020, 10:44 GMT+10

NEW YORK, Sept. 18 (Xinhua) -- The U.S. dollar decreased slightly in late trading on Friday as market participants digested some economic data.

The dollar index, which measures the greenback against six major peers, fell 0.05 percent at 92.9273.

In late New York trading, the euro increased to 1.1853 U.S. dollars from 1.1838 dollars in the previous session, and the British pound fell to 1.2924 dollars from 1.2960 U.S. dollars in the previous session. The Australian dollar decreased to 0.7299 U.S. dollar from 0.7304 dollar.

The U.S. dollar bought 104.55 Japanese yen, lower than 104.69 Japanese yen of the previous session. The U.S. dollar rose to 0.9101 Swiss franc from 0.9089 Swiss franc, and it increased to 1.3192 Canadian dollars from 1.3174 Canadian dollars.

On the data front, the Leading Economic Index (LEI) for the United States increased 1.2 percent in August to 106.5, following a 2.0 percent increase in July, New York-based The Conference Board reported on Friday.

"While the U.S. LEI increased again in August, the slowing pace of improvement suggests that this summer's economic rebound may be losing steam heading into the final stretch of 2020," Ataman Ozyildirim, analyst at The Conference Board, said in a statement.

"Despite the improvement, the LEI remains in recession territory, still 4.7 percent below its February level," Ozyildirim added.

More Adelaide News

Access More

Sign up for Adelaide News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!