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US dollar slips against other major currencies

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New York: The US dollar fell against other major currencies on weaker-than-expected economic data.

US privately-owned housing starts in May were at a seasonally adjusted annual rate of 1.092 million units, notching the lowest level in eight months, the Commerce Department reported on Friday.

This is 5.5 per cent below the revised April estimate of 1.156 million and 2.4 per cent below the May 2016 rate of 1.119 million, Xinhua news agency reported.

Meanwhile, the preliminary reading of the consumer sentiment dropped from 97.1 in May to 94.5 for June, well below market estimates, said the Thomson Reuters/University of Michigan index of consumer sentiment on Friday.

The dollar index, which measures the greenback against six major peers, was down 0.29 per cent at 97.146 in late trading.

In late New York trading, the euro increased to 1.1195 dollars from 1.1154 dollars in the previous session, and the British pound was up to 1.2782 dollars from 1.2762 US dollars in the previous session. The Australian dollar gained to 0.7626 dollar from 0.7583 dollar.

The dollar bought 110.83 Japanese yen, slightly lower than 110.84 yen of the previous session. The US dollar lost to 0.9736 Swiss franc from 0.9748 Swiss franc, and it was down to 1.3217 Canadian dollars from 1.3275 Canadian dollars.

IANS

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