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Dollar Trading Mixed Heading Into The Weekend


The dollar is turning in a mixed performance against its major rivals Friday afternoon. The buck is rising against its major European rivals, but has turned lower against the Japanese Yen.

There has reportedly been some progress toward a meeting between the U.S. and China at the G-20 summit next month.

Speaking to CNBC's "Squawk on the Street" on Thursday, Trump's top economic advisor Larry Kudlow said that there have been enormous talks about meeting Chinese President Xi Jinping late next month.

"There may be a meeting, but it has not been set in concrete as far as I know," Kudlow said. "They have lots to talk about, so we'll see."

Reflecting a substantial rebound in fuel prices, the Labor Department released a report on Friday showing a much bigger than expected increase in U.S. import prices in the month of September.

The Labor Department said import prices climbed by 0.5 percent in September after falling by a revised 0.4 percent in August.

Economists had expected import prices to rise by 0.2 percent compared to the 0.6 percent drop originally reported for the previous month.

Meanwhile, the report said export prices came in unchanged in September after slipping by a revised 0.2 percent in August.

Export prices had also been expected to increase by 0.2 percent compared to the 0.1 percent dip originally reported for the previous month.

With consumers offering less favorable assessments of their personal finances, the University of Michigan released a report on Friday unexpectedly showing a modest decrease in U.S. consumer sentiment in the month of October.

The preliminary report showed the consumer sentiment index dipped to 99.0 in October from the final September reading of 100.1. The drop surprised economists, who had expected the index to inch up to 100.4.

The dollar slid to an early low of $1.1610 against the Euro Friday, but has since climbed to around $1.1560.

Eurozone industrial production grew more-than-expected in August, data from Eurostat revealed Friday. Industrial production climbed 1 percent on a monthly basis, reversing 0.7 percent drop each in June and July. Output was expected to rise moderately by 0.4 percent.

Germany's consumer price inflation accelerated to its highest level in nearly seven years in September, final data from Destatis revealed Friday. Consumer prices advanced 2.3 percent on year, the fastest since November 2011, when inflation was 2.4 percent. Prices had advanced only 2 percent in August.

The buck fell to an early low of $1.3257 against the pound sterling Friday, but has since risen to around $1.3150.

The greenback climbed to a high of Y112.496 against the Japanese Yen Friday morning, but has since retreated to around Y111.950.

Japan's tertiary industry activity recovered in August, the Ministry of Economy, Trade and Industry showed Friday. Tertiary industry activity gained 0.5 percent month-on-month in August, in contrast to a 0.1 percent drop in July. Economists had forecast a 0.3 percent rise.

The M2 money stock in Japan was up 2.8 percent on year in September, the Bank of Japan said on Friday - coming in at 1,006.5 trillion yen. That was shy of expectations for 2.9 percent, which would have been unchanged from the August reading.

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