March 29, 2019 / 12:47 PM / 5 months ago

FOREX-U.S. dollar dips after weak consumer spending data

NEW YORK, March 29 (Reuters) - The dollar index, which measures the greenback against a basket of six other major currencies, fell on Friday morning after the Commerce Department reported that U.S. consumer spending barely rose in January.

The personal consumption expenditure (PCE) index showed inflation pressures were modest in January. The core PCE index is the Federal Reserve’s preferred measure of inflation. Higher inflation would oblige the Fed to reevaluate their pause in interest-rate hiking. (Reporting by Kate Duguid Editing by Chizu Nomiyama)

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