Friday, March 28, 2008

Dollar Rises Against Major Currencies Friday

Even though the American economy has shown sluggishness in relationship to consumer spending, the U.S. dollar still managed to climb against the major currencies on Friday.

The Department of Commerce report noted that consumer spending, while growing, was only at a 0.1 percent rate in February. Not including food and energy prices, inflation was fairly tame, also rising by only 0.1 percent in February.

The U.S. dollar gained against the Euro, Canadian dollar and the Swiss franc, among others. It remained the same with the Japanese yen.

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