Dollar Rises As Investors Await Sentiment and Inventory News
MARKETSCOPE : The dollar strengthened early Friday, as investors waited for news of U.S. consumer sentiment and inventories.
The dollar index was up 0.13 to 91.40. The Michigan Sentiment Index was due out at 9:50 a.m. Eastern Standard Time. October Wholesale Inventories will be released at 10 a.m.
The euro, which has been trading in the $1.1600 to $1.1800 range recently, was off at $1.1794 after disappointing news about French October Industrial Production. The sterling slid to $1.7500, even though the U.K. October goods trade balance came in at a better than expected 4.6 billion pound deficit vs. a 5.6 billion deficit in September.
The dollar rose to 120.46 yen. Japan's third quarter Gross Domestic Product was revised down to 0.2% growth from the 0.4% initially reported.