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U.S. Dollar Declines Modestly amid Economic Data

The U.S. dollar weakened slightly against its major rivals in late trading on Friday as traders digested a slew of economic data.

U.S. personal income increased 0.4 percent in August, the Bureau of Economic Analysis reported on Friday.

Personal consumption expenditures (PCE), a key metric of household spending, rose 0.1 percent, which involved increases in spending for goods, primarily for recreational goods and vehicles, as well as falls in spending for services, mainly for food services and accommodations.

Meanwhile, new orders for manufactured durable goods in August climbed 0.2 percent, marking the third consecutive monthly growth, the U.S. Census Bureau said.

The dollar index, which measures the greenback against six major peers, retreated 0.04 percent at 99.0999 in late trading.

In late New York trading, the euro was up to 1.0941 dollars from 1.0928 dollars in the previous session, and the British pound decreased to 1.2290 dollars from 1.2330 U.S. dollars in the previous session. The Australian dollar increased to 0.6761 dollar from 0.6753 dollar.

The U.S. dollar bought 107.82 Japanese yen, higher than 107.80 Japanese yen of the previous session. The U.S. dollar fell to 0.9902 Swiss franc from 0.9930 Swiss franc, and it decreased to 1.3245 Canadian dollars from 1.3262 Canadian dollars.

(www.chinaview.cn 2019-09-30)