RTTN: Dollar Little Changed Amid US Wholesale Inventories Report
(RTTNews) - Following the release of Commerce Department's wholesale inventories report for June at 10 am ET, the US dollar was little changed against its major rivals. As of 10:02 am ET, the greenback was trading at 1.5616 against the pound, 1.23 against the euro, 78.70 against the yen and 0.9768 against the Swiss franc.
U.S. wholesale inventories dropped unexpectedly in June to a seasonally adjusted level of $481.9 billion, a 0.2 percent decline from revised May levels. May wholesale inventories, which had initially shown a 0.3 percent increase, were revised down to show essentially no change for that month.
Most economists had expected wholesale inventories for June to continue to increase, matching the 0.3 percent increase initially reported for May. On a year-over-year basis, U.S. wholesale inventories were up 5.3 percent.
