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U.S. dollar climbs on upbeat data

Xinhua, October 15, 2016 Adjust font size:

The U.S. dollar rose against most major currencies on Friday as economic data from the country came out positive.

The U.S. Producer Price Index (PPI) for final demand rose 0.3 percent in September, seasonally adjusted, beating market consensus, the Labor Department reported Friday.

Meanwhile, the U.S. Commerce Department announced Friday that advance estimates of U.S. retail and food services sales for September increased 0.6 percent from the previous month to 459.8 billion dollars, on par with market estimates.

Analysts said the overall upbeat economic data bolstered market speculation for an interest-rate hike by year-end.

The dollar index, which measures the greenback against six major peers, was up 0.38 percent at 97.883 in late trading.

In late New York trading, the euro fell to 1.0998 dollars from 1.1049 dollars, and the British pound dropped to 1.2191 dollars from 1.2249 dollars. The Australian dollar increased to 0.7617 dollars from 0.7574 dollars.

The dollar bought 104.07 Japanese yen, higher than 103.58 yen in the previous session. The dollar inched up to 0.9891 Swiss francs from 0.9866 Swiss francs, and it fell to 1.3129 Canadian dollars from 1.3194 Canadian dollars. Enditem