U.S. Dollar Ticks Down Amid Lower Consumer Sentiment

FILE PHOTO: A U.S. five dollar note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo
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The U.S. dollar lost in late trading on Friday, as the U.S. consumer sentiment slipped.

The dollar index, which measures the greenback against six major peers, decreased 0.06 percent to 105.3192 in late trading.

The University of Michigan released the preliminary reading of its consumer sentiment index on Friday, which dropped to 67.7 this month from 69.5 in August.

The survey’s one-year inflation expectation fell to 3.1 percent, the lowest since March 2021, while the five-year inflation outlook slid to a one-year low of 2.7 percent from 3.0 percent.

The headline General Business Conditions Index of the Federal Reserve Bank of New York’s Empire State Manufacturing survey rose to 1.9 in September from -19.0 in August, which came in better than market expectation.

While in the eurozone, an interest rate cut is not on the European Central Bank (ECB)’s agenda, ECB President Christine Lagarde said on Friday, pushing back on some market bets that a reversal of rate hikes could start in the first half of 2024.

In late New York trading, the euro rose to 1.0660 U.S. dollars from 1.0636 dollars in the previous session, and the British pound decreased to 1.2384 U.S. dollars from 1.2402 dollars.

The U.S. dollar bought 147.8570 Japanese yen, higher than 147.4410 Japanese yen of the previous session. The U.S. dollar increased to 0.8972 Swiss francs from 0.8962 Swiss francs, and it increased to 1.3516 Canadian dollars from 1.3509 Canadian dollars. The U.S. dollar decreased to 11.1821 Swedish krona from 11.2022 Swedish krona.