Investing.com - The dollar remained mostly higher against the other major currencies on Friday, despite the release of disappointing U.S. consumer sentiment data, as fresh optimism over the strength of the U.S. economic recovery continued to support.
The dollar was steady against the euro, with EUR/USD up 0.07% to 1.3751.
In a revised report, the University of Michigan said its consumer sentiment index ticked up to 80.0 in March, from a reading of 79.9 the previous month. Analysts had expected the index to rise to 80.5 this month.
Earlier Friday, official data showed that U.S. personal spending rose 0.3% in February, in line with expectations, Personal spending in January was revised down to a 0.2% gain from a previously estimated 0.4% increase.
A separate report showed that the core U.S. personal consumption expenditures price index remained unchanged at 0.1% last month, in line with expectations.
The dollar had strengthened broadly on Thursday after economic reports showed that U.S. jobless claims fell to the lowest level since late November last week and that U.S. economic fourth quarter growth was revised higher.
The upbeat data added to hopes that the slowdown in U.S. economic activity seen at the start of the year would be temporary.
In the euro zone, preliminary data showed that German consumer price inflation rose 0.3% in March, less than the expected 0.4% increase, after a 0.5% gain in February.
Data also showed that French consumer spending rose 0.1% in February, less than the expected 0.8% increase, after a 2.1% decline the previous month.
The pound was higher against the dollar, with GBP/USD adding 0.16% to 1.6636.
Data showed that the U.K. gross domestic product rose by 0.7% in the fourth quarter, in line with expectations.
A separate report showed that the U.K. current account deficit narrowed to £22.4 billion in the fourth quarter, from £22.8 billion in third quarter, whose figure was revised down from a previously estimated deficit of £20.7 billion.
Analysts had expected the current account deficit to narrow to £14 billion in the fourth quarter.
The dollar was higher against the yen, with USD/JPY climbing 0.68% to 102.85 and little changed against the Swiss franc, with USD/CHF up 0.01% to 0.8866.
Government data earlier showed that retail sales in Japan rose at an annaualized rate of 3.6% in February, beating expectations for a 3.2% increase, after a 4.4% gain the previous month.
A separate report showed that Tokyo's consumer price inflation rose 1.3% this month from a year earlier, exceeding expectations for a 1.2% gain, after a 1.1% increase in February.
Core consumer price inflation, which excludes fresh food, rose 1% this month from a year earlier, exceeding expectations for a 0.9% advance, after a 0.9% increase in February.
The reports came after data showed that household spending in Japan declined at an annualized rate of 2.5% last month, compared to expectations for a 0.1% uptick, after a 1.1% rise in January.
The greenback was higher against the Australian, New Zealand and Canadian dollars, with AUD/USD edging down 0.10% to 0.9248, NZD/USD inching down 0.09% to 0.8664 and USD/CAD adding 0.19% to 1.1053.
The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.07% to 80.33.