1st LD Writethru: U.S. dollar rises amid upbeat data

The U.S. dollar climbed against most major currencies on Friday as the positive economic data from the country pointed to a possible interest-rate hike later this year.

According to the U.S. Labor Department on Friday, the Consumer Price Index (CPI) for all urban consumers hiked 0.3 percent in June on a seasonally adjusted basis, in line with market consensus.

The CPI showed a 12-month gain for the first time since December, rising 0.1 percent for the 12 months ending in June. The index for all items less food and energy climbed 0.2 percent in June after rising 0.1 percent in May.

Analysts said the inflation rate was drawing closer to the central bank's target of 2 percent, boosting the odds of a rate hike as early as September.

Meanwhile, U.S. privately-owned housing starts in June registered at a seasonally adjusted annual rate of 1,174,000, which was 9.8 percent above the revised May estimate of 1,069,000, the Commerce Department said Friday. The latest reading beat market consensus of 1,125,000.

The dollar index, which measures the greenback against six major peers, was on track for its biggest weekly gain in two months on Friday. The index was up 0.20 percent at 97.863 in late trading.

In late New York trading, the euro fell to 1.0851 dollars from 1.0875 dollars in the previous session, and the British pound rose to 1.5609 dollars from 1.5608 U.S. dollars in the previous session. The Australian dollar dipped to 0.7378 dollars from 0.7406 dollars.

The U.S. dollar bought 124.09 Japanese yen, lower than 124.13 yen of the previous session. The U.S. dollar climbed to 0.9611 Swiss francs from 0.9578 Swiss francs, and it increased to 1.2987 Canadian dollars from 1.2963 Canadian dollars. Endite