Investing.com - The U.S. dollar traded higher against most of its major rivals during Friday’s Asian session, supported by more comments from Federal Reserve Chairman Ben Bernanke and some encouraging data points.
In Asian trading Friday, EUR/USD fell 0.10% to 1.3098 after Bernanke reiterated in congressional testimony earlier that stimulus programs will remain in place for the foreseeable future though they may begin to wind down later this year if the economy improves.
Later Friday, Germany is to release official data on producer price inflation.
USD/JPY rose 0.34% to 100.78 as traders look toward this weekend’s elections that will decide control of Japan’s upper house of parliament. It is widely expected that Prime Minister Shinzo Abe’s Liberal Democratic Party will gain control of the upper house.
GBP/USD fell 0.10% to 1.5211 after the Office for National Statistics said U.K. retail sales rose 0.2% in June, in line with expectations.
Retail sales were 2.2% higher compared to the same month last year, above expectations for a 1.7% gain. Core retail sales, which exclude automobile sales, rose 0.2% in June, in line with forecasts, after increasing 2.1% in May.
USD/CHF rose 0.07% to 0.9455 while USD/CAD added 0.08% to 1.0388 as oil prices drifted slightly to the downside.
In U.S. economic news out Thursday, the U.S. Labor Department said initial claims for jobless benefits slid by 24,000 to 334,000 last week. The less volatile four-week moving average dropped by 5,250.
The Federal Reserve Bank of Philadelphia said that its manufacturing index rose 19.8 in the current month from June’s reading of 12.5. Analysts had expected the index to decline to 7.8.
AUD/USD fell 0.09% to 0.9163 while NZD/USD inched down 0.02% to 0.7901. The U.S. Dollar Index rose 0.07% to 83.01.
In Asian trading Friday, EUR/USD fell 0.10% to 1.3098 after Bernanke reiterated in congressional testimony earlier that stimulus programs will remain in place for the foreseeable future though they may begin to wind down later this year if the economy improves.
Later Friday, Germany is to release official data on producer price inflation.
USD/JPY rose 0.34% to 100.78 as traders look toward this weekend’s elections that will decide control of Japan’s upper house of parliament. It is widely expected that Prime Minister Shinzo Abe’s Liberal Democratic Party will gain control of the upper house.
GBP/USD fell 0.10% to 1.5211 after the Office for National Statistics said U.K. retail sales rose 0.2% in June, in line with expectations.
Retail sales were 2.2% higher compared to the same month last year, above expectations for a 1.7% gain. Core retail sales, which exclude automobile sales, rose 0.2% in June, in line with forecasts, after increasing 2.1% in May.
USD/CHF rose 0.07% to 0.9455 while USD/CAD added 0.08% to 1.0388 as oil prices drifted slightly to the downside.
In U.S. economic news out Thursday, the U.S. Labor Department said initial claims for jobless benefits slid by 24,000 to 334,000 last week. The less volatile four-week moving average dropped by 5,250.
The Federal Reserve Bank of Philadelphia said that its manufacturing index rose 19.8 in the current month from June’s reading of 12.5. Analysts had expected the index to decline to 7.8.
AUD/USD fell 0.09% to 0.9163 while NZD/USD inched down 0.02% to 0.7901. The U.S. Dollar Index rose 0.07% to 83.01.