Forex – U.S. Dollar Eases as Euro Falls on Political Uncertainty

0 – The U.S. dollar eased from an earlier high on Friday as the euro remained under pressure.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched up 0.06% to 94.67 as of 11:26 AM ET (15:26 GMT) after reaching an earlier high of 94.94.

Consumer spending in the U.S. rose as expected in August, but was slightly lower than the prior month.

The Federal Reserve’s preferred inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, was unexpectedly flat in August after an increase of 0.2% in the prior month. Economists had predicted a 0.1% rise.

Elsewhere, the dollar rose against the safe-haven yen, with USD/JPY up 0.13% to 113.53.

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