Forex – Dollar Snaps 3-Day Losing Streak on Firmer U.S. Import Data

0 – The dollar found its footing against its rivals Friday on firmer U.S. import data and weakness in the euro and sterling.

The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.29% to 94.96.

The cost of goods imported into the U.S., as measured by the import price index, rose0.5% last month, exceeding economists’ forecasts for a 0.2% increased. That was the first increase in four months, driven by a rise in energy prices.

The rise in greenback, however, appeared too little too late as it remained on track for a weekly loss after ceding ground against sterling and the euro.

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