Investing.com - The dollar held gains against the other major currencies on Friday, as Thursday''s mostly positive U.S. economic reports continued to support demand for the greenback, while investors awaited an upcoming report on U.S. home sales.
The dollar was higher against the euro, with EUR/USD shedding 0.20% to 1.3627.
The greenback strengthened broadly after the National Association of Realtors on Thursday said existing home sales increased 1.3% in April to an annual rate of 4.65 million units, indicating that the housing market is regaining momentum.
A separate report showed that U.S. manufacturing activity expanded at a faster rate than expected this month.
Meanwhile, the single currency came under pressure after the Ifo Institute for Economic Research on Friday said its index for German business climate ticked down to a five-month low of 110.4 in May, from a reading of 111.2 the previous month. Analysts had expected the index to fall to 110.9.
The report came a day after data showed that manufacturing activity in the euro zone expanded at the slowest rate in six months in May, although the region’s service sector expanded at the fastest rate in almost three years.
The pound was lower against the dollar, with GBP/USD slipping 0.20% to 1.6836.
Sentiment on the pound remained vulnerable after data on Thursday confirmed that the U.K. economy grew 0.8% in the first three months of the year, disappointing some market expectations for an upward revision.
The dollar was higher against the yen and the Swiss franc, with USD/JPY edging up 0.18% to 101.91 and with USD/CHF rising 0.20% to 0.8959.
The greenback was steady to higher against the Australian, New Zealand and Canadian dollars, with AUD/USD inching down 0.03% to 0.9224, NZD/USD sliding 0.35% to 0.8536 and USD/CAD dipping 0.03% to 1.0892.
In Canada, official data showed that core consumer price inflation rose 0.2% last month, in line with expectations, after a 0.3% increase in March.
Consumer price inflation in Canada, including the eight most volatile items, rose 0.3% in April, as markets had anticipated, after a 0.6% gain the previous month.
The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.19% to 80.44.
Market participants also continued to focus on developments in Ukraine, where presidential elections were scheduled to take place on Sunday May 25. U.S. and European officials have already warned that Russia would face additional sanctions if Moscow disrupts the upcoming elections.
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