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Dollar Mixed As Week Draws To A Close

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The dollar is turning in a mixed performance against its major rivals Friday afternoon. The lack of U.S. economic data at the end of the trading week is keeping some investors on the sidelines. However, traders can look forward to a number of important released next week, including consumer confidence, GDP and durable goods orders.

The dollar has risen to around $1.2290 against the Euro Friday afternoon, from an early low of $1.2331.

Eurozone inflation eased as estimated in January, final data from Eurostat showed Friday. Inflation slowed slightly to 1.3 percent in January from 1.4 percent in December. The rate came in line with the estimate released on January 31.

Germany's economy expanded as initially estimated in the fourth quarter largely on foreign demand, detailed report from Destatis showed Friday. Gross domestic product climbed 0.6 percent sequentially, slower than the 0.7 percent expansion seen in the third quarter. The rate came in line with the estimate published on February 14.

The buck reached an early high of $1.3902 against the pound sterling Friday, but has since retreated to around $1.3965

The greenback climbed to a high of Y107.131 against the Japanese Yen Friday morning, but has since eased back to around Y106.625.

Overall nationwide consumer prices in Japan climbed 1.4 percent on year in January, the Ministry of Internal Affairs and Communications said on Friday. That exceeded forecasts for 1.3 percent and was up from 1.0 percent in December.

Producer prices in Japan were up 0.7 percent on year in January, the Bank of Japan said on Friday. That was shy of expectations for a gain of 0.8 percent, which would have been unchanged from the previous month.

by RTTNews Staff Writer

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