Investing.com - The U.S. dollar was broadly higher against the other major currencies on Friday, after a regional Federal Reserve chairman said the U.S. central bank may taper its asset buying program as soon as this summer.
During European morning trade, the dollar was steady against the euro, with EUR/USD dipping 0.05% to 1.2875.
The greenback strengthened broadly after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin reducing its monetary easing this summer and end bond buying late this year.
Meanwhile, the euro remained under pressure after a string of weak economic reports fuelled speculation over an additional rate cut by the European Central Bank.
On Wednesday, data showed that the euro zone economy contracted by 0.2% in the three months to March bringing the annualized rate of decline to 0.9%.
The greenback was higher against the pound, with GBP/USD slipping 0.17% to 1.5242.
Elsewhere, the greenback was higher against the yen and the Swiss franc, with USD/JPY edging 0.25% higher to trade at 102.52, and with USD/CHF adding 0.10% to 0.9657.
Official data earlier showed that core machinery orders in Japan rose 14.2% in March, blowing past expectations for a 2.8% increase, after a 7.5% gain the previous month.
The greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD gaining 0.37% to 1.0229, AUD/USD retreating 0.65% to 0.9744 and NZD/USD declining 0.47% to 0.8116.
Earlier Friday, official data showed that producer price inflation input in New Zealand rose 0.8% in the first quarter, more than the expected 0.3% increase, after a 0.3% fall in the previous quarter.
Producer price inflation output rose 0.8% in the last quarter, beating expectations for a flat reading, after a 0.1% decline in the fourth quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.21% to 84.08.
Later in the day, the U.S. was to release preliminary data from the University of Michigan on consumer sentiment and inflation expectations.
During European morning trade, the dollar was steady against the euro, with EUR/USD dipping 0.05% to 1.2875.
The greenback strengthened broadly after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin reducing its monetary easing this summer and end bond buying late this year.
Meanwhile, the euro remained under pressure after a string of weak economic reports fuelled speculation over an additional rate cut by the European Central Bank.
On Wednesday, data showed that the euro zone economy contracted by 0.2% in the three months to March bringing the annualized rate of decline to 0.9%.
The greenback was higher against the pound, with GBP/USD slipping 0.17% to 1.5242.
Elsewhere, the greenback was higher against the yen and the Swiss franc, with USD/JPY edging 0.25% higher to trade at 102.52, and with USD/CHF adding 0.10% to 0.9657.
Official data earlier showed that core machinery orders in Japan rose 14.2% in March, blowing past expectations for a 2.8% increase, after a 7.5% gain the previous month.
The greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD gaining 0.37% to 1.0229, AUD/USD retreating 0.65% to 0.9744 and NZD/USD declining 0.47% to 0.8116.
Earlier Friday, official data showed that producer price inflation input in New Zealand rose 0.8% in the first quarter, more than the expected 0.3% increase, after a 0.3% fall in the previous quarter.
Producer price inflation output rose 0.8% in the last quarter, beating expectations for a flat reading, after a 0.1% decline in the fourth quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.21% to 84.08.
Later in the day, the U.S. was to release preliminary data from the University of Michigan on consumer sentiment and inflation expectations.