The dollar is turning in a mixed performance against its major rivals Friday afternoon. The buck is up against its major European rivals, but is losing ground against the Japanese Yen. Traders continue to react to yesterday's Federal Reserve statement, as we as a batch of U.S. economic data this morning.
The Fed left interest rates unchanged as widely expected, but indicated it remains on track to gradually raise rates despite signs of a slowdown in the pace of growth in business investment.
Partly reflecting a jump in prices for trade services, the Labor Department released a report on Friday showing a much bigger than expected increase in U.S. producer prices in the month of October. The Labor Department said its producer price index for final demand climbed by 0.6 percent in October after rising by 0.2 percent in September. Economists had been expecting another 0.2 percent uptick.
With an increase in inventories of durable goods more than offsetting a drop in inventories of non-durable goods, the Commerce Department released a report on Friday showing U.S. wholesale inventories rose by slightly more than anticipated in the month of September.
The Commerce Department said wholesale inventories climbed by 0.4 percent in September after jumping by 0.9 percent in August. Economists had expected inventories to rise by 0.3 percent.
A preliminary report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated slightly in the month of November. The report said the consumer sentiment index edged down to 98.3 in November from the final October reading of 98.6. Economists had expected the index to dip to 98.0.
The dollar has climbed to around $1.1335 against the Euro Friday afternoon, from an early low of $1.1368.
France's industrial production decreased more-than-expected in September, data from the statistical office Insee revealed Friday.
Industrial production logged a monthly drop of 1.8 percent, in contrast to a 0.2 percent rise in August. This was the first fall in five months and the biggest since January. Economists had forecast a marginal 0.3 percent decrease for September.
The buck has risen to a 4-day high of $1.2975 against the pound sterling Friday afternoon, from an early low of $1.3068.
The UK economy expanded at the fastest pace in nearly two years in the third quarter driven by household spending and exports, despite heightened uncertainty over the Brexit deal.
Gross domestic product advanced 0.6 percent sequentially after expanding 0.4 percent a quarter ago, figures from the Office for National Statistics showed Friday. The growth rate was the fastest since late 2016 and matched economists' expectations.
UK industrial production remained flat, while manufacturing output recovered in September, data from the Office for National Statistics revealed Friday.
Industrial production remained unchanged for the second straight month in September. Economists had forecast a 0.1 percent drop in output.
The UK's visible trade deficit decreased to a seven-month low in September, figures from the Office for National Statistics revealed Friday. The trade in goods showed a shortfall of GBP 9.73 billion compared to a deficit of GBP 11.72 billion in August. This was the smallest deficit since February.
The greenback reached an early high of Y114.011 against the Japanese Yen Friday, but has since retreated to around Y113.765.
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