The dollar held steady against the euro and the yen on Friday, as investors remained cautious ahead of a string of U.S. economic reports due later in the day, after mixed data on Thursday sparked uncertainty over the strength of the U.S. economy.
EUR/USD was little changed at 1.1265, near the previous session’s two-and-a-half week low of 1.1233.
Market sentiment improved after data showed that China’s gross domestic product rose by an annualized rate of 6.7% in the first quarter, in line with market expectations, following a growth rate of 6.8% in the three months to December.
Another report showed that Chinese industrial production increased by an annualized rate of 6.8% in March, exceeding expectations for a 5.9% gain, after a 5.4% rise the previous month.
The positive data eased concerns over slowdown in the world’s second largest economy.
USD/JPY was steady at 109.45, the highest since April 7.
Market participants were eyeing the release of U.S. reports on industrial production and consumer sentiment due later Friday for further indications on the strength of the economy.
On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending April 9 decreased by 13,000 to 253,000, the lowest level since March 1973.
A separate report showed that the U.S. consumer price index rose 0.1% in March, disappointing expectations for a 0.2% gain. Year-on-year, consumer prices rose 0.9% last month, confounding expectations for an increase of 1.0%.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.89, just below Thursday’s two-and-a-half week peak of 95.21