CBS: Dollar rises on signs US economy is improving
NEW YORK — The dollar is rising against the euro on signs that the U.S. economy is slowly getting better.
The Federal Reserve said that industrial production rose 0.6 last month as factories made more cars, computers and airplanes. That's a sign that manufacturing is slowly recovering.
Consumer prices were unchanged in July from June, according to the Labor Department. The consumer price index hasn't increased since March, which means that inflation is in check.
The euro fell to $1.2285 in afternoon trading from $1.2330 late Tuesday. The British pound fell to $1.5684 from $1.5690.
The dollar rose to 78.89 Japanese yen from 78.79 yen and to 0.9777 Swiss franc from 0.9741 Swiss franc.
