The dollar gave back early gains against the sterling on Wednesday morning in New York. The dollar made its advance following the release of data showing UK claimant count came in lower than expected at 2.7% in May. The dollar touched a 2-day high of 1.9673 at 7 am Easter Time. It maintained that mark for about 90 minutes before slipping back to its overnight levels.
The greenback gained on the yen during Wednesday morning in New York. The greenback moved higher following the release of revised data showing Japanese industrial output fell 0.2% on the month in April. The buck hit a multi-month high of 122.47 at 6:30 am Eastern Time. The currencies traded in a range for several hours near that mark and reached 122.30 at 11 a.m. ET.
On Wednesday morning, the dollar was uncertain against the euro on Wednesday morning in New York after touching a two-month high earlier in the day. The greenback climbed to 1.3262 at 5 am Eastern Time, its highest level against the euro since late March. The dollar soon moved off its high, after the release of data showing Euro zone employment rose 0.4% sequentially in the first quarter. It added further losses at around 10 a.m. ET. By 10:45 am Eastern Time, the buck traded at 1.3303 against the euro.
The Department of Labor released its report on import and export prices in the month of May on Wednesday, showing a notable slowdown in the pace of import price growth and a modest increase in export prices. The report showed that import prices rose 0.9 percent in May after rising 1.4 percent in April and 1.6 percent in March. With the increase, import prices rose at an annual rate of 1.1 percent.
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