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U.S. Dollar Rises Amid Consumer Sentiment Surge

FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo

The U.S. dollar ticked up on Friday as U.S. consumer sentiment soared to the highest level since September 2021.

The dollar index, which measures the greenback against six major peers, increased 0.15 percent to 99.9184 in late trading.

Consumer sentiment index tracked by the University of Michigan rose 13 percent in July from June, the second straight month of improvement and the biggest over-month gain since 2006, according to a preliminary report released Friday.

The report also showed that consumers’ expectations for inflation remained at their lowest levels since early 2021.

Consumers saw inflation rates of 3.4 percent in the year ahead, well below last year’s 5.4 percent peak.

Meanwhile, the price index for U.S. imports fell 0.2 percent in June following a 0.4 percent decline in May, the U.S. Bureau of Labor Statistics reported on Friday.

Prices for U.S. exports decreased 0.9 percent in June, after declining 1.9 percent the previous month.

In late New York trading, the euro was up to 1.1234 dollars from 1.1220 dollars in the previous session, and the British pound was down to 1.3102 dollars from 1.3129 U.S. dollars in the previous session.

The U.S. dollar bought 138.8260 Japanese yen, higher than 138.0260 Japanese yen of the previous session. The U.S. dollar increased to 0.8620 Swiss francs from 0.8587 Swiss francs, and it was up to 1.3212 Canadian dollars from 1.3108 Canadian dollars. The U.S. dollar rose to 10.2416 Swedish Krona from 10.2078 Swedish Krona.