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- American focus: dollar and the yen declined, euro gained
American focus: dollar and the yen declined, euro gained
The dollar weakened against most of its major peers after U.S. inflation data fueled speculation Federal Reserve policy makers will maintain economic stimulus.
The U.S. currency fell against the 17-nation euro as a gauge of consumer prices excluding food and energy rose less than forecast. The U.S. consumer-price index climbed 0.4 percent, matching the median forecast of economists surveyed by Bloomberg News, the Labor Department reported today in Washington. The core measure, which excludes more volatile food and energy costs, climbed 0.1 percent, less than projected. U.S. industrial production was little changed last month, compared to a predicted 0.4 percent expansion, the Federal Reserve reported today, and consumer confidence decreased in March. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 74.3 in March from 75.3 the prior month. The gauge was projected to rise to 76.
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