JABAR EKSPRES – The US dollar gave up early losses and edged higher against a basket of major peers in late trading Friday (Saturday morning GMT), due to stronger U.S. consumer sentiment in June.
The dollar index, which measures the greenback against six major rivals, inched up 0.14 percent to 102.2536 in late trade.
A consumer survey released by the University of Michigan on Friday (16/6/2023) showed that US consumer confidence strengthened to 63.9 in June, surpassing expectations of 60 and the previous reading of 59.2. In addition, the current conditions index for June rose from the previous reading of 64.9 to 68, exceeding expectations of 65.5.
The consumer expectations index for June increased from the previous reading of 55.4 to 61.3, higher than the expected value of 56.5.
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The US dollar index fell briefly before rebounding, as the report indicated that consumers expect inflation to continue to decline significantly.
Consumers’ one-year inflation expectations for June fell sharply from the previous reading of 4.2 percent to 3.3 percent, and medium-to-long-term inflation expectations also continued to decline to 3.0 percent from the previous reading of 3.1 percent.
Meanwhile, the MSCI Worldwide index rose 0.3 percent, around its highest level since mid-April 2022, as meetings of major central banks ended.
In late New York trading, the euro fell to 1.0942 US dollars from 1.0950 US dollars in the previous session, and the British pound rose to 1.2831 US dollars from 1.2781 US dollars in the previous session.
The US dollar bought 141.8160 Japanese yen, higher than 140.3150 Japanese yen in the previous session. The US dollar rose to 0.8937 Swiss francs from 0.8913 Swiss francs, and fell to 1.3183 Canadian dollars from 1.3211 Canadian dollars. The US dollar rose to 10.6299 Swedish krona from 10.5898 Swedish krona.
