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Dollar index almost unchanged at 2-1/2 month lows

Published 10/15/2015, 06:01 AM
© Reuters.  Dollar holds steady near multi-month lows vs. rivals
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Investing.com - The dollar was almost unchanged at two-and-a-half month lows against the other major currencies on Thursday, as the previous session's downbeat U.S. economic data continued to weigh on demand for the greenback.

The dollar was lower against the yen, with USD/JPY declining 0.38% to 118.38.

The U.S. Commerce Department reported on Wednesday that retail sales increased by 0.1% last month, missing expectations for a gain of 0.2%.

Data also showed that producer price inflation in the U.S. fell for the first time in five months in September.

The weak economic reports fuelled expectations that a U.S. rate hike could be delayed for an even longer period than expected.

EUR/USD edged down 0.24% to 1.1446, but remained close to a 1-1/2 month peak of 1.1495 hit overnight.

Elsewhere, the dollar was steady against the pound and the Swiss franc, with GBP/USD at 1.5487 and with USD/CHF at 0.9489.

The Australian and New Zealand dollars were stronger, with AUD/USD gaining 0.55% to 0.7340 and with NZD/USD rallying 1.19% to 0.6870.

The Australian Bureau of Statistics reported on Thursday that the number of employed people declined by 5,100 in September, compared to expectations for an increase of 5,000.

The number of employed people rose by 18,000 in August, whose figure was revised from a previously estimated gain of 17,400.

Australia's unemployment rate remained unchanged at 6.2% last month, confounding expectations for an uptick to 6.3%.

Separately, the Melbourne Institute said its inflation expectations for the next 12 months rose to 3.5% in September, from 3.2% the previous month.

Meanwhile, USD/CAD dropped 0.34% to trade at 1.2892.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.04, the lowest level since August 26.

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