The U.S. dollar extended gains against other major currencies Tuesday, as investors mainly digested the newly-released economic data.
U.S. import prices increased 0.7 percent in September, the Labor Department reported Tuesday, after advancing 0.6 percent in August. The price index for U.S. exports rose 0.8 percent in September, after increasing 0.7 percent in the previous month.
The U.S. Federal Reserve reported that industrial production rose 0.3 percent in September. The rates of change for July and August were notably revised; the current estimate for July, a decrease of 0.1 percent, was 0.5 percentage point lower than previously reported, while the estimate for August, a decrease of 0.7 percent, was 0.2 percentage point higher than before.
Meanwhile, traders were digesting the latest comments from Fed Chair Janet Yellen on Sunday in an international banking seminar.
Yellen said that "economic activity in the United States has been growing moderately so far this year, and the labor market has continued to strengthen."
Analysts said her remarks suggested that the central bank will soon resume raising interest rates to reflect the strengthening economy.
The dollar index, which measures the greenback against six major peers, was up 0.19 percent at 93.489 in late trading.
In late New York trading, the euro decreased to 1.1772 dollars from 1.1809 dollars in the previous session, and the British pound decreased to 1.3290 dollars from 1.3260 U.S. dollars in the previous session. The Australian dollar decreased to 0.7847 dollar from 0.7859 dollar.
The dollar bought 112.15 Japanese yen, higher than 111.89 yen of the previous session. The U.S. dollar rose to 0.9784 Swiss franc from 0.9749 Swiss franc, and it was up to 1.2540 Canadian dollars from 1.2519 Canadian dollars.
U.S. import prices increased 0.7 percent in September, the Labor Department reported Tuesday, after advancing 0.6 percent in August. The price index for U.S. exports rose 0.8 percent in September, after increasing 0.7 percent in the previous month.
The U.S. Federal Reserve reported that industrial production rose 0.3 percent in September. The rates of change for July and August were notably revised; the current estimate for July, a decrease of 0.1 percent, was 0.5 percentage point lower than previously reported, while the estimate for August, a decrease of 0.7 percent, was 0.2 percentage point higher than before.
Meanwhile, traders were digesting the latest comments from Fed Chair Janet Yellen on Sunday in an international banking seminar.
Yellen said that "economic activity in the United States has been growing moderately so far this year, and the labor market has continued to strengthen."
Analysts said her remarks suggested that the central bank will soon resume raising interest rates to reflect the strengthening economy.
The dollar index, which measures the greenback against six major peers, was up 0.19 percent at 93.489 in late trading.
In late New York trading, the euro decreased to 1.1772 dollars from 1.1809 dollars in the previous session, and the British pound decreased to 1.3290 dollars from 1.3260 U.S. dollars in the previous session. The Australian dollar decreased to 0.7847 dollar from 0.7859 dollar.
The dollar bought 112.15 Japanese yen, higher than 111.89 yen of the previous session. The U.S. dollar rose to 0.9784 Swiss franc from 0.9749 Swiss franc, and it was up to 1.2540 Canadian dollars from 1.2519 Canadian dollars.
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