New York, April 30 (IANS) The US dollar fell against major currencies in late New York trading Friday as US consumer spending rose in March and inflation in the eurozone climbed in April, Xinhua reported.
After the US Federal Reserve announced its decision to maintain the ultra-loose monetary policy for an extended period of time, the dollar kept falling as investors believed the Fed would not raise the interest rate soon.
The US Commerce Department said Friday that both consumer income and spending rose in March. The consumer income rose 0.5 percent while consumer spending increased 0.6 percent, mainly driven by surging prices of food and gasoline, after an upwardly revised 0.9-percent advance in February.
Meanwhile, inflation in the eurozone rose to 2.8 percent in April, the highest level since last October, up from 2.7 percent in March.
The surging inflation raised investors’ concern on a further interest rate hike by the European Central Bank.
The euro rose to near 1.484 against the greenback in late trading session.
In late Friday trading, the dollar bought 81.10 yen, comparing with 81.57 late Thursday, and the euro rose to $1.4839 from 1.4821.
The British pound also rose to $1.6711 from 1.6643. The dollar fell from 0.8732 to 0.8639 against the Swiss franc, and also fell to 0.9460 Canadian dollars from 0.9512.
