The dollar extended a gain against
the euro after a U.S. government report said a measure of
producer prices rose the most in more than six years, Bloomberg reports.
Against the euro, the dollar appreciated to $1.3022 at 8:33
a.m. in New York, from $1.3070 late Thursday, according to
electronic currency-dealing system EBS. The U.S. currency was
little changed at 105.54 yen.
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U.S. wholesale prices rose 0.3 percent in January, led by
higher costs for cigarettes and new cars and trucks, the Labor
Department in Washington reports. The increase in the measure of
prices paid to factories, farmers and other producers followed a
0.3 percent drop in December. The core rate, which excludes food
and energy, surged 0.8 percent, the biggest rise since December
1998.
Bloomberg News
