Dollar Strengthens After US Industrial Production Report
BRUSSELS (Oct 28) The Federal Reserve said that the US industrial production grew 0.6 percent in September compared to expectations for an unchanged reading from previous month at 0.4 percent. Manufacturing production rose 0.1 percent in the month from 0.7 percent in August. Economists expected the growth in manufacturing production to have slowed to 0.3 percent.
The US dollar edged higher against its major counterparts after the report. As of 9:17 am ET, the greenback was trading at 1.3789 against the euro, 0.8952 against the Swiss franc, 97.70 against the yen and 1.6154 against the pound.