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U.S. dollar rises amid trade tensions
Last Updated: 2018-07-12 13:43 | Xinhua
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The U.S. dollar index increased against other major currencies in late trading on Wednesday, as trade tensions between the United States and its major trading partners intensified.

The U.S. Trade Representative said Tuesday that Washington is preparing to impose 10 percent tariffs on another 200 billion U.S. dollars of Chinese imports.

The announcement came just days after the United States imposed 25 percent tariffs on 34 billion dollars of Chinese goods.

On the economic front, the Producer Price Index for final demand rose 0.3 percent in June, seasonally adjusted, beating market consensus of 0.2 percent, the U.S. Labor Department reported Wednesday.

On an unadjusted basis, the final demand index moved up 3.4 percent for the 12 months ending in June, the largest 12-month increase since climbing 3.7 percent in November 2011.

The dollar index, which measures the greenback against six major peers, rose 0.58 percent at 94.701 in late trading.

In late New York trading, the euro fell to 1.1672 dollars from 1.1749 dollars in the previous session, and the British pound was down to 1.3205 dollars from 1.3215 U.S. dollars in the previous session. The Australian dollar dipped to 0.7370 dollar from 0.7402 dollar.

The U.S. dollar bought 112.03 Japanese yen, higher than 111.29 Japanese yen of the previous session. The U.S. dollar was up to 0.9962 Swiss franc from 0.9924 Swiss franc, and it gained to 1.3208 Canadian dollars from 1.3120 Canadian dollars. Enditem

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