Dollar rises after mixed US economic reports

AP News
Posted: Dec 23, 2011 3:39 PM
Dollar rises after mixed US economic reports

The dollar rose against other major currencies after the U.S. government released a pair of mixed economic reports.

Currency trading is thin Friday ahead of Christmas. U.S. financial markets will be closed Monday in observance of the holiday, which falls on Sunday.

The euro fell to $1.3040 in late trading Friday from $1.3043 late Thursday. The British pound fell to $1.5605 from $1.5678. The dollar rose to 0.9371 Swiss franc from 0.9364.

The Commerce Department said Friday that orders to U.S. factories for durable goods rose 3.8 percent in November, the biggest gain since July.

In a separate report, the Commerce Department said that consumer spending rose 0.1 percent and incomes also rose 0.1 percent. Both gains were below what economists were expecting.

In other trading Friday, the dollar fell to 78.02 Japanese yen from 78.17 Japanese yen and to 1.0206 Canadian dollar from 1.0212 Canadian dollar.