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2018.10.1615:01:00UTC+00Dollar Little Changed After Paring Early Losses

The dollar is turning in a mixed performance against its major rivals Tuesday afternoon, but remains little changed overall. After a weak start to the day, the buck has pared its losses over the course of the trading session. U.S. economic data was largely in line with expectations this morning.

Industrial production in the U.S. increased in line with economist estimates in the month of September, according to a report released by the Federal Reserve on Tuesday. The report said industrial production rose by 0.3 percent in September after climbing by 0.4 percent in August. The continued increase in production matched expectations.

A report released by the National Association of Home Builder on Tuesday unexpectedly showed a modest increase in U.S. homebuilder confidence in the month of October. The report said the NAHB/Wells Fargo Housing Market Index inched up to 68 in October from 67 in September. Economists had expected the index to come in unchanged.

The dollar fell to a low of $1.1620 against the Euro Tuesday, but has since bounced back to around $1.1575.

The euro area trade surplus increased in August on higher exports, figures from Eurostat showed Tuesday. The trade surplus rose to a seasonally adjusted EUR 16.6 billion from EUR 12.6 billion in July.

Germany's economic confidence weakened in October, survey data from the Centre for European Economic Research, or ZEW, showed Tuesday. The economic sentiment index fell sharply by 14.1 points to -24.7 in October. The expected score was -12.

Germany's import prices rose at a steady pace in August, figures from Destatis showed Tuesday.

Import prices advanced 4.8 percent year-on-year in August, the same pace of increase as seen in July. Economists had forecast the rate to accelerate to 5.2 percent.

At the same time, export price inflation rose to 2.1 percent in August from 1.7 percent in the previous month. On a monthly basis, export prices gained 0.2 percent, following a 0.1 percent rise in July.

The buck dropped to a low of $1.3235 against the pound sterling Tuesday, but has since rebounded to around $1.3190.

The UK unemployment rate remained at the lowest level in 43 years in the three months to August, helping the average earnings to increase further amid fears of no-deal Brexit, the Office for National Statistics said Tuesday.

The ILO jobless rate came in at 4 percent, in line with expectations, and was the lowest since February 1975. The number of unemployed decreased 47,000 from the previous quarter to 1.36 million.

Average weekly earnings excluding bonuses advanced 3.1 percent annually, the highest since late 2008.

The greenback has climbed to around Y112.215 against the Japanese Yen Tuesday afternoon, from an early low of Y111.809.

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