Forex - Dollar gains on soft U.S. business activity, sentiment data By Investing.com

Forex - Dollar gains on soft U.S. business activity, sentiment data

ForexSep 28, 2012 03:01PM ET

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Forex - Dollar gains on soft U.S. business activity, sentiment data

Investing.com - The dollar rose against most major currencies on Friday after disappointing business activity and consumer sentiment data published in the U.S., sparking a risk-off trading session that sent investors chasing the safe and liquid greenback.

In U.S. trading on Friday, EUR/USD was down 0.45% at 1.2854.

In the U.S., the Chicago purchasing managers' index dropped to a seasonally adjusted 49.7 compared to 53.0 August.

Analysts had expected the Chicago PMI to remain unchanged at 53.0 in September.

Consumers, meanwhile, remain wary in the world's largest economy, separate data showed.

The Thomson Reuters/University of Michigan's final index on consumer sentiment for September fell to a seasonally adjusted 78.3 from 79.2 the previous month.

Analysts had expected the index o fall to 79.0 in September.

The dollar did see some selling after Spain announced that the country's bank stress tests revealed financial institutions need EUR60 billion to return to health.

The capital shortfall came in largely in line with expectations, which sparked some appetite for risk.

The greenback, meanwhile, was up against the pound, with GBP/USD trading down 0.55% at 1.6145.

The dollar was up against the yen, with USD/JPY trading up 0.48% at 77.98, and up against the Swiss franc, with USD/CHF trading up 0.30% at 0.9401.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD trading up 0.28% at 0.9834, AUD/USD down 0.69% at 1.0372 and NZD/USD trading down 0.32% at 0.8288.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.48% at 80.01.

The country will also release industry data on pending homes sales, a leading indicator of economic health.

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Dollar Index	97.218	-0.024	-0.02%

Crude Oil WTI	87.31	+0.70	+0.81%
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Forex - Dollar gains on soft U.S. business activity, sentiment data

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