Investing.com - The dollar remained lower against the other major currencies on Friday, as weak U.S. data and growing expectations for the Federal Reserve to maitain its stimulus program for the time being weighed broadly on demand for the greenback.
During U.S. morning trade, the euro was higher against the dollar with EUR/USD up 0.15% at 1.3478.
In a report, the Federal Reserve of New York said its maufacturing activity index declined to minus 2.2 in November, from a reading of 1.5 the previous month, confounding expectations for a rise to 5.
A separate report showed that U.S. import prices fell 0.7% in October, compared to expectations for a 0.4% downtick, after a downwardly revised 0.1% rise the previous month.
In addition, official data showed that industrial production in the U.S. ticked down 0.1% in October, disappointing expectations for a 0.2% rise, after an upwardly revised 0.7% increase in September.
The data came after Federal Reserve Chair nominee Janet Yellen on Thursday defended the central bank's stimulus measures to bolster growth and called efforts to boost hiring an "imperative".
Answering questions before the Senate Banking Committee, Yellen said she would press forward with the central bank's ultra-easy monetary policy until officials were confident a durable economic recovery was in place that could sustain job creation.
The comments added to expectations that the Fed's monthly bond purchases may remained unchanged for an extended period of time.
In the euro zone, official data earlier showed that consumer price inflation remained unchanged in October at an annualized rate of 0.7%, in line with expectations.
Core consumer price inflation, which excludes food, energy, alcohol, and tobacco, ticked down to 0.8% from a year earlier, from an upwardly revised rate of 1% in September, in line with market expectations.
The greenback was lower against the pound, with GBP/USD up 0.24% at 1.6104.
The dollar was higher against the yen with USD/JPY adding 0.30% at 100.32, but lower against the Swiss franc with USD/CHF down 0.09% at 0.9156.
The yen remained under pressure after Japanese Finance Minister Taro Aso said on Thursday that it is important for Japan to retain currency market intervention as a policy option to utilize in time of excess volatility in markets.
The dollar was steady to lower against its cousins in Canada, Australia and New Zealand, with USD/CAD easing up 0.03% at 1.0470, AUD/USD gaining 0.56% at 0.9368 and NZD/USD climbing 0.57% at 0.8321.
Statistics Canada said manufacturing sales rose 0.6% in September, less than the expected 1% increase, after a 0.2% decline the previous month.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.06% at 80.98.
During U.S. morning trade, the euro was higher against the dollar with EUR/USD up 0.15% at 1.3478.
In a report, the Federal Reserve of New York said its maufacturing activity index declined to minus 2.2 in November, from a reading of 1.5 the previous month, confounding expectations for a rise to 5.
A separate report showed that U.S. import prices fell 0.7% in October, compared to expectations for a 0.4% downtick, after a downwardly revised 0.1% rise the previous month.
In addition, official data showed that industrial production in the U.S. ticked down 0.1% in October, disappointing expectations for a 0.2% rise, after an upwardly revised 0.7% increase in September.
The data came after Federal Reserve Chair nominee Janet Yellen on Thursday defended the central bank's stimulus measures to bolster growth and called efforts to boost hiring an "imperative".
Answering questions before the Senate Banking Committee, Yellen said she would press forward with the central bank's ultra-easy monetary policy until officials were confident a durable economic recovery was in place that could sustain job creation.
The comments added to expectations that the Fed's monthly bond purchases may remained unchanged for an extended period of time.
In the euro zone, official data earlier showed that consumer price inflation remained unchanged in October at an annualized rate of 0.7%, in line with expectations.
Core consumer price inflation, which excludes food, energy, alcohol, and tobacco, ticked down to 0.8% from a year earlier, from an upwardly revised rate of 1% in September, in line with market expectations.
The greenback was lower against the pound, with GBP/USD up 0.24% at 1.6104.
The dollar was higher against the yen with USD/JPY adding 0.30% at 100.32, but lower against the Swiss franc with USD/CHF down 0.09% at 0.9156.
The yen remained under pressure after Japanese Finance Minister Taro Aso said on Thursday that it is important for Japan to retain currency market intervention as a policy option to utilize in time of excess volatility in markets.
The dollar was steady to lower against its cousins in Canada, Australia and New Zealand, with USD/CAD easing up 0.03% at 1.0470, AUD/USD gaining 0.56% at 0.9368 and NZD/USD climbing 0.57% at 0.8321.
Statistics Canada said manufacturing sales rose 0.6% in September, less than the expected 1% increase, after a 0.2% decline the previous month.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.06% at 80.98.