Positive US economy data pushes dollar higher

AP News
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Posted: Aug 17, 2012 4:40 PM

NEW YORK (AP) — The dollar rose against most major currencies Friday on positive U.S. economic data.

The Conference Board said Friday that its index of leading economic indicators rose 0.4 percent in July after falling 0.4 percent in June. That's a sign that the economy is regaining some momentum.

Currency analysts also said that an increase in the University of Michigan's index of consumer sentiment, also released on Friday, helped push the dollar higher.

The euro fell to $1.2322 in late trading Friday from $1.2362 late Thursday. The British pound fell to $1.5691 from $1.5740.

The dollar rose to 79.55 Japanese yen from 79.25 yen, to 0.9746 Swiss franc from 0.9717 Swiss franc and to 98.88 Canadian cents from 98.62 Canadian cents.

The dollar also strengthened against the Australian and New Zealand dollar, the South Korean won and the Hong Kong dollar.