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The dollar held its ground versus other major currencies on Friday, ending another rough week by paring some of its steep recent losses.
Traders shrugged off a mixed big of economic reports as the dollar stayed away from yearly lows against the euro and loonie.
US consumer confidence deteriorated in October Americans expressed deep reservations about their personal finances despite signs the the economy has stabilized from the worst economic downturn since the Great Depression.
Meanwhile, industrial production increased for the third consecutive month in September, with the pace of growth for the month coming in well above analyst estimates.
The dollar improved to 1.4880 versus the euro after coming within a hair of yesterday's yearly low of 1.4967. The downward spiral for the dollar began back in March, when green shoots began appearing on the economic horizon.
Meanwhile, the dollar rallied versus the petro-linked loonie, briefly bouncing back above $1.0400 after coming within 2 Canadian cents of parity on Thursday.
The buck rose to a 3-week high of 91.20 versus the yen, extending its advance from a 10-month low of 87.99, set earlier this month. Back in January, the dollar touched 87.08, its lowest level since 1995.
On the flip side, the buck remained on the defensive versus the sterling, slipping to 1.6350. Only a five days ago, the dollar was at a 5-month high near 1.5700, but increasingly hawkish rhetoric from the Bank of England has given the sterling a measure of support.
Meanwhile, the dollar rallied versus the petro-linked loonie, briefly bouncing back above $1.0400 after coming within 2 Canadian cents of parity on Thursday.
Consumer prices were 0.9% lower in September than they were in September 2008 as prices at the pump continued to fall, according to data released Friday by Statistics Canada.
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