1st LD Writethru: U.S. dollar falls on Fed rate hike outlook

The U.S. dollar went down against most major currencies Thursday as Federal Reserve signaled that it was on track to raise the interest rate this year.

Federal Chair Janet Yellen delivered a dovish remark Wednesday. Analysts believed that the pace of rate hikes would be slower.

On the U.S. economic front, the Consumer Price Index for all urban consumers increased 0.4 percent in May on a seasonally adjusted basis, slightly below market consensus, the U.S. Labor Department said Thursday. The index for all items less food and energy rose 0.1 percent in May, its smallest increase since December.

Traders are eyeing the progress of Greek debt crisis. Finance ministers of euro zone countries gathered in Luxembourg Thursday amid dimming hope to clinch a deal for Greece to avoid a default.

In late New York trading, the euro gained to 1.1368 dollars from 1.1333 dollars of the previous session, and the British pound increased to 1.5874 dollars from 1.5829 dollars. The Australian dollar went up to 0.7794 dollar from 0.7750 dollar. The U.S. dollar bought 123.05 Japanese yen, lower than 123.38 yen of the previous session. The dollar moved down to 0.9219 Swiss franc from 0.9222 Swiss franc and moved up to 1.2233 Canadian dollars from 1.2228 Canadian dollars. Endite