IV:Dollar broadly higher vs. rivals, eyes on U.S. data
Investing.com - The U.S. dollar was broadly higher against the other major currencies on Friday, as markets awaited the release of upcoming U.S. data, while investors remained cautious ahead of a meeting of euro zone finance ministers, expected to take place later in the day.
During European morning trade, the dollar was higher against the euro, with EUR/USD shedding 0.35% to 1.3054.
Investors remained cautious as the Eurogroup of finance ministers was to meet later in the day Dublin and were expected to discuss whether to give Ireland and Portugal an extension on their bailout loan repayments.
Cyprus was are also slated to be discussed at the meeting, after the country's government confirmed on Thursday that the cost of its bailout has risen to EUR23 billion EUR17.5 billion.
Earlier Friday, official data showed that industrial production rose 0.4% in February, more than the expected 0.3% increase, after a 0.2% rise the previous month.
The greenback was also higher against the pound, with GBP/USD slipping 0.17% to 1.5360.
Data earlier showed that house prices in the U.K. rose 0.2% in March, in line with expectations, after a 0.5% increase the previous month.
Elsewhere, the greenback was lower against the yen, with USD/JPY shedding 0.48% to trade at 96.18, but higher against the Swiss franc, with USD/CHF adding 0.21% to 0.9327.
Bank of Japan Governor Haruhiko Kuroda earlier said the central bank will not set a time limit for easing and will continue until it achieves sustainable inflation.
Separately, government data earlier showed that tertiary industry activity in Japan rose 1.1% in February, after a 1.5% decline the previous month.
The greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD edging up 0.19% to 1.0123, AUD/USD falling 0.22% to 1.0522 and NZD/USD retreating 0.45% to 0.8592.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.21% to 82.53.
Later in the day, the U.S. was to release official data on retail sales, producer price inflation and business inventories, as well as preliminary data from the University of Michigan on consumer sentiment.
