US dollar mixed amid Trump policy, economic data

New York, Jan 25 (IANS) The US dollar traded mixed against other major currencies as investors were digesting President Donald Trump’s trade policies and the country’s newly released economic data.

In late New York trading on Tuesday, the euro fell to $1.0728 from $1.0739 in the previous session, and the British pound climbed to $1.2504 from $1.2494 in the previous session, Xinhua news agency reported.

The Australian dollar increased to $0.7577 from $0.7564.

The US dollar bought 113.87 Japanese yen, higher than 113.03 yen in the previous session. The US dollar rose to 1.0014 Swiss francs from 0.9990 Swiss francs, and it edged down to 1.3157 Canadian dollars from 1.3265 Canadian dollars.

The dollar index, which measures the greenback against six major peers, increased 0.16 per cent at 100.320 in late trading on Tuesday.

Analysts said investors are worried about Trump’s plan to renegotiate the North American Free Trade Agreement with Mexico and Canada and his abandonment of the Trans Pacific Trade Partnership with Asian countries.

On the economic front, US existing-home sales closed out 2016 as the best year in a decade, even as sales declined in December as the result of ongoing affordability tensions and historically low supply levels, according to the National Association of Realtors on Tuesday.

Total existing-home sales decreased 2.8 per cent to a seasonally adjusted annual rate of 5.49 million in December from an upwardly revised 5.65 million in November.

Meanwhile, adjusted for seasonal influences, the Markit Flash US Manufacturing PMI for January increased to 55.1 from 54.3 in December.

–IANS

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