Dollar falls on lackluster US data

17 April, 2016 12:00 AM printer

NEW YORK: The dollar dipped against the euro and the yen Friday following lackluster US economic data.
The Federal Reserve reported that US industrial production fell 0.6 percent in March, matching the decline in February.
Meanwhile the University of Michigan's survey of consumer sentiment showed consumer confidence fell to 89.7 in April from 91.0 in March, the fourth consecutive monthly decline, reports AFP.
"Outside of a few upside surprises, most of this week's US economic reports highlight the ongoing challenges in the US economy," said Kathy Lien, analyst at BK Asset Management.
Lien predicted the US Federal Reserve at its next meeting later in April would refrain from further interest rate increases and could slightly downgrade its assessment of the US economy.