The mighty dollar isn’t getting any help from U.S. consumers.
The currency erased gains after consumer confidence unexpectedly fell by the most in more than two years, reflecting Americans’ dim economic outlook. The greenback extended a weekly decline after a duo of manufacturing indicators missed expectations, scuppering an earlier rally.
The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 major trading partners, was down 0.1 percent at 1,149.80 at 3:14 p.m. New York time, deepening its decline to 1.2 percent in the past week. The index fell as low as 1,149.06 Friday, the lowest level since Jan. 21.
The greenback is poised to fall for the fifth week as tepid U.S. indicators contrast with those in Europe showing stronger growth and stabilizing inflation. The selloff is the longest since Oct. 4, 2013, during a stalemate between congressional Republicans and Democrats over raising the federal debt ceiling.
The dollar fell 0.4 percent to $1.1455 against the euro. It climbed 0.1 percent to 119.33 yen.