off-the-wire

FOREX-Dollar dips as producer prices cool, euro hits one-year high

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details, updates prices; changes byline, dateline, previous LONDON) By Karen Brettell NEW YORK, April 13 (Reuters) - The dollar fell and the euro hit a one-year high against the U.S. currency on Thursday after producer prices fell last month, adding to expectations that the Federal Reserve is nearing the end of its tightening cycle.


Wholesale prices fell 0.5% in March and core prices dipped 0.1%.


Other data showed that the number of Americans filing new claims for unemployment benefits increased more than expected last week, a further sign that labor market conditions were loosening up as higher borrowing costs dampen demand in the economy. The euro reached $1.10470, the highest since April 4, 2022, and was last at $1.1032, up 0.32% on the day. The dollar index fell to 101.10, the lowest since April 2.


======================================================== Currency bid prices at 8:46AM (1246 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change


Session
Dollar index 101.1600 101.4800 -0.31% -2.251% +101.6000 +101.1000 Euro/Dollar $1.1032 $1.0991 +0.38% +2.96% +$1.1047 +$1.0977 Dollar/Yen 132.8250 133.1950 -0.27% +1.32% +133.3850 +132.7700 Euro/Yen 146.54 146.33 +0.14% +4.45% +146.8800 +146.1400 Dollar/Swiss 0.8894 0.8964 -0.76% -3.80% +0.8974 +0.8880 Sterling/Dollar $1.2516 $1.2485 +0.26% +3.50% +$1.2531 +$1.2478 Dollar/Canadian 1.3390 1.3440 -0.32% -1.12% +1.3448 +1.3388 Aussie/Dollar $0.6751 $0.6694 +0.84% -0.98% +$0.6753 +$0.6687 Euro/Swiss 0.9810 0.9850 -0.41% -0.86% +0.9858 +0.9800 Euro/Sterling 0.8812 0.8802 +0.11% -0.36% +0.8817 +0.8793 NZ $0.6269 $0.6216 +0.84% -1.29% +$0.6270 +$0.6204 Dollar/Dollar
Dollar/Norway 10.3820 10.4280 -0.32% +5.92% +10.4470 +10.3950 Euro/Norway 11.4574 11.4740 -0.14% +9.18% +11.4880 +11.4490 Dollar/Sweden 10.3178 10.3505 +0.15% -0.86% +10.3578 +10.3129 Euro/Sweden 11.3845 11.3679 +0.15% +2.11% +11.4044 +11.3580


(Reporting by Karen Brettell; Editing by Angus MacSwan)

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