FX round-up: Dollar falls amid consumer sentiment data

The dollar fell slightly against most major currencies on Friday as US consumer sentiment data drew concern for the country’s economic recovery.
According to the University of Michigan, the consumer sentiment index fell from 98.1 in January to 93.6 on February. Inflation expectations also rose for the next year, from 2.5% in January to 2.8% in February.

The EUR/USD stayed at a week-long high of 1.1405 on Friday while the dollar index, which measures the US currency against a basket of six others, fell 0.13% to $94.17.

IG analyst Alastair McCaig said: “The Bank of England’s more hawkish tones have added to the sentiment that a good bounce is well overdue.”

The USD/JPY receded 0.3% to 118.76 as the GBP/USD rose 0.08% to 1.5401.

Comments are closed.