The dollar remained strong against a basket of other major currencies on Friday as data showed that US consumer sentiment rose more than expected this month and that US producer prices rose slightly more than expected in May.
In the initial report, the University of Michigan said its index of consumer sentiment rose to 94.6 this month from a reading of 90.7 in May, compared with expectations for a rise to 91.5. UoM also said that inflation expectations for the next 12 years more and more reduced to 2.7% in June from 2.8% in May.
The report came after the US Labor Department said the producer price index rose 0.5% in May, just above expectations for a 0.4% uptick, after a 0.4% slip the previous month. Year over year, producer prices fell 1.1% last month, in line with expectations, after a 1.3% decline in April.
The US dollar index, which measures the strength of the greenback against a trade-weighted basket of six major currencies, was steady at 94.94, down from a high of 95.67 hit four days earlier.
EUR / USD steady at 1.1255, after falling to lows of 1.1152 earlier in the session. The euro remained under pressure after the International Monetary Fund pulled out of the Greek debt talks on Thursday for allegedly Athens failed to compromise on the reform of the labor market and pensions.
A government spokesman said the Greek negotiating team was "ready" to intensify efforts to wrap up a deal "even in the next 24 hours."
USD / JPY down 0.11% to 123.27 as market participants chose to forgo comments Bank of Japan Governor Haruhiko Kuroda on Wednesday showed that the relative value of the yen may not continue to fall. Elsewhere, the GBP / USD rising 0.32% to 1.5567, while USD / CHF declining 0.63% to trade at 0.9267.
Australia and New Zealand dollar remains weak, with AUD / USD sliding 0.30% to 0.7732 and the NZD / USD down 0.42% to 0.6981. Earlier Friday, data showed that New Zealand Manufacturing Index diminishing to 51.5 in May from a reading of 51.8 the previous month. USD / CAD adding 0.18% to trade at 1.2313.
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