U.S. Dollar Eases After Weak PPI Data
December 13 2023 - 5:00AM
RTTF2
The U.S. dollar pulled back against its major counterparts in
the New York session on Wednesday, as producer inflation cooled
slightly more than expected in November.
Data from the Labor Department showed that the producer price
index for final demand was unchanged in November after falling by a
revised 0.4 percent in October.
Economists had expected producer prices to inch up by 0.1
percent compared to the 0.5 percent drop originally reported for
the previous month.
The Labor Department also said the annual rate of producer price
growth slowed to 0.9 percent in November from 1.2 percent in
October. Year-over-year growth was expected to slow to 1.0
percent.
The greenback eased to 145.03 against the yen, 0.8749 against
the franc and 1.0809 against the euro, off its early highs of
145.99, 0.8770 and 1.0773, respectively.
The greenback retreated to 1.3550 against the loonie and 0.6583
against the aussie, from its early highs of 1.3608 and 0.6541,
respectively.
The greenback was trading at 0.6124 against the kiwi, down from
an early fresh 2-week high of 0.6084.
The greenback reversed from an early 5-day high of 1.2509
against the pound and was trading at 1.2548.
The greenback is seen finding support around 142.00 against the
yen, 0.86 against the franc, 1.10 against the euro, 1.33 against
the loonie, 0.68 against the aussie, 0.64 against the kiwi and 1.27
against the pound.
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