Dollar pares gains after October Philly Fed manufacturing data
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E-mailNEW YORK (Reuters) - The dollar reduced its earlier gains versus a basket of currencies on Thursday as data from the Philadelphia Federal Reserve showed further contraction in business activities in the U.S. Mid-Atlantic region in October.
The regional Fed report curbed earlier bets stemming from a stronger-than-forecast rise in core consumer prices in September which revived some expectations the Federal Reserve might raise interest rates later this year.
The dollar index <.DXY> was last up 0.5 percent at 94.437, holding above a seven-week low set earlier Thursday.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
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