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Dollar broadly lower vs. rivals ahead of U.S. data

Published 04/25/2014, 05:17 AM
Updated 04/25/2014, 05:17 AM
Dollar trends lower against rivals, focus on U.S. data

Investing.com - The dollar was broadly lower against the other major currencies on Friday, as sentiment on the greenback remained fragile ahead of a U.S. consumer sentiment report later in the day, although concerns over tensions in Ukraine still lent support to the safe-haven dollar.

The dollar was fractionally lower against the euro, with EUR/USD up 0.07% to 1.3842.

Market participants were eyeing upcoming U.S. data after a report on Thursday showed that U.S. durable goods orders rose more than expected in March, fuelling optimism over the strength of the country's economic recovery.

Meanwhile, investors remained cautious after Ukrainian forces killed up to five pro-Moscow rebels on Thursday. In response, Russia launched army drills near the border, sparking fears its troops would invade.

U.S. Secretary of State John Kerry said Washington was drawing closer to imposing more sanctions on Moscow.

The pound was higher against the dollar, with GBP/USD adding 0.09% to 1.6818.

Official data earlier showed that U.K. retail sales rose 0.1% in March, beaing expectations for a 0.4% fall. Retail sales in February were revised down to a 1.3% increase from a previously estimated 1.7% gain.

A separate report showed that U.K. mortgage approvals rose by 45,900 last month, compared to expectations for an increase of 48,900. February's mortgage approvals were revised down to a 47,200 rise from a previously estimated 47,600 increase.

The dollar was lower against the yen and the Swiss franc, with USD/JPY edging down 0.12% to 102.20 and with USD/CHF easing 0.09% to 0.8809.

Official data showed that Tokyo's consumer price inflation, which excludes fresh food, rose 2.7% this month from a year earlier, below expectations for a 2.8% increase, after a 1% gain the previous month.

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Japan's national core consumer price inflation rose 1.3% in April compared to the same time a year earlier, confounding expectations for a 1.4% gain, after a 1.3% increase in March.

The greenback was mixed to lower against the Australian, New Zealand and Canadian dollars, with AUD/USD adding 0.13% to 0.9275, NZD/USD edging 0.12% higher to 0.8574 and USD/CAD up 0.09% to 1.1033.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.05% to 79.81.

Later in the day, the U.S. was to release revised data on consumer sentiment.

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