Forex- U.S. Dollar Struggles to Gain Ground on Holiday Trading

Forex
The dollar was unmoved on Friday. The dollar was unmoved on Friday.

Investing.com – The U.S. dollar edged down against a basket of other currencies on Friday in a thinly traded day as major markets in the U.S. and Europe were closed for Easter weekend.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.01% to 89.75 as of 4:42 AM ET (8:42 GMT).

The dollar was unmoved by a flurry of economic data on Thursday that showed a strengthening U.S. economy.

The Federal Reserve’s preferred inflation measure, the (PCE) price index excluding food and energy, rose 1.6% in the 12 months through February, in line with economists’ forecast.

Another report showed that dropped by 12,000 to a seasonally adjusted 215,000 for the week ended March 24, beating economists’ forecast for a drop to 230,000.

Meanwhile Commerce Department said , which accounts for more than two-thirds of U.S. economic activity, met expectations, rising 0.2% last month, meeting economists’ forecasts.

European and U.S. markets were closed on Friday, and trading is expected to be thin.

The dollar fell to a low against the safe haven yen, with losing 0.23% to trade at 106.19.

The euro was higher, with up 0.24% to 1.2330. Meanwhile jumped 0.29% to 1.4059.

Elsewhere, the Australian dollar was higher, with rising 0.33% at 0.7701, while inched up 0.19% to 0.7245.

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