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FOREX-Dollar edges higher versus euro after U.S. data

Published 01/15/2010, 08:59 AM
Updated 01/15/2010, 09:03 AM

(Adds comments, details, changes dateline, previous LONDON)

NEW YORK, Jan 15 (Reuters) - The dollar edged higher versus the euro on Friday after data showed U.S. consumer prices rose more slowly than expected in December and manufacturing growth in New York state accelerated.

Analysts noted improvement in regional manufacturing data and tame consumer prices were consistent with markets' expectations and said the data may help pave the way for further gains in the dollar.

"It's not a surprise to see better-than-expected manufacturing data. A point of this recovery, outside of fiscal stimulus, is that the U.S. manufacturing sector is already on the rebound," said Michael Woolfolk, a senior currency strategist at The Bank of New York Mellon in New York.

Woolfolk said euro/dollar may trade as low as $1.4280 in coming days.

The euro was last 0.9 percent lower at $1.4365, from $1.4371 earlier. (Reporting by Vivianne Rodrigues; Additional reporting by Steven C. Johnson and Wanfeng Zhou; Editing by James Dalgleish)

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