US dollar rebounds amid economic data | 2019-07-21

US dollar rebounds amid economic data

21 July, 2019 12:00 AM printer

NEW YORK: The U.S. dollar strengthened against its major rivals on Friday amid a slew of economic data.

The dollar index, which measures the greenback against six major peers, was up 0.36 percent at 97.1493 in late trading, reports Xinhua.

In late New York trading, the euro fell to 1.1219 dollars from 1.1266 dollars in the previous session, and the British pound decreased to 1.2499 dollars from 1.2538 dollars in the previous session. The Australian dollar decreased to 0.7043 dollar from 0.7066 dollar.

The U.S. dollar bought 107.77 Japanese yen, higher than 107.51 Japanese yen of the previous session. The U.S. dollar decreased to 0.9825 Swiss franc from 0.9832 Swiss franc, and it increased to 1.3062 Canadian dollars from 1.3045 Canadian dollars.

U.S. consumer sentiment index edged up to 98.4 in July from 98.2 in June, according to a preliminary reading from the University of Michigan.  Economists surveyed by MarketWatch had forecast a reading of 99.0.

The data came as markets are pricing high on the U.S. Federal Reserve’s rate cut moves later this month.