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2010.08.2711:18:00UTC+00Dollar Gains Against Most Majors After Reuters/ U. Of Michigan Confidence Data

The US dollar traded higher against major currencies after the release of Reuters and the University of Michigan consumer sentiment index report in New York morning deals on Friday. While Reuters and the University of Michigan released a report today showing that consumer sentiment in August improved compared to the previous month, the consumer sentiment index for the month was unexpectedly revised downward.

The report showed that the consumer sentiment index for August was downwardly revised to 68.9 from the previous estimate of 69.6, although it remains above the July reading of 67.8. The downward revision surprised economists, who had expected the index to be revised up to a reading of 70.0.

Currently, the greenback is trading near 1.2697 against the euro, 1.0273 versus the Swiss franc, 84.77 against the Japanese yen and 1.5460 versus the British pound.

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