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US dollar climbs on upbeat data

NEW YORK — The US dollar rose against most major currencies on Friday as economic data from the country came out positive.

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016. REUTERS/Amr Abdallah Dalsh/File Photo (2016.mb.com.ph)

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016. REUTERS/Amr Abdallah Dalsh/File Photo (2016.mb.com.ph)

The US Producer Price Index (PPI) for final demand rose 0.3 percent in September, seasonally adjusted, beating market consensus, the Labor Department reported Friday.

Meanwhile, the US Commerce Department announced Friday that advance estimates of US retail and food services sales for September increased 0.6 percent from the previous month to USD459.8 billion, on par with market estimates.

Analysts said the overall upbeat economic data bolstered market speculation for an interest-rate hike by year-end.

The dollar index, which measures the greenback against six major peers, was up 0.38 percent at 97.883 in late trading.

In late New York trading, the euro fell to USD1.0998 from USD1.1049, and the British pound dropped to USD1.2191 from USD1.2249. The Australian dollar increased to USD0.7617 from USD0.7574.

The dollar bought 104.07 Japanese yen, higher than 103.58 yen in the previous session. The dollar inched up to 0.9891 Swiss francs from 0.9866 Swiss francs, and it fell to 1.3129 Canadian dollars from 1.3194 Canadian dollars.