Dollar Rises Against Major Counterparts

(RTTNews) - The U.S. dollar climbed higher on Friday, extending gains from the previous session following U.S. President Donald Trump's announcement that the 25% tariffs on Canada and Mexico, and an additional 10% on China, will take effect early next week.

Traders also reacted to the data on U.S. personal income and spending.

Data released by the Commerce Department showed the closely watched readings on U.S. consumer price inflation increased in line with economist estimates in the month of January.

The data said the personal consumption expenditures (PCE) price index rose by 0.3% in January, matching the increase seen in December as well as economist estimates.

The annual rate of growth by the PCE price index slowed to 2.5% in January from 2.6% in December, which also matched expectations.

Excluding food and energy prices, the core PCE price still climbed by 0.3% in January as expected, after edging up by 0.2% in December. The increase by core prices was also in line with estimates.

The annual rate of core PCE price growth slowed to 2.6% in January from 2.9% in December.

Meanwhile, a between President Donald Trump and Ukrainian President Volodymyr Zelenskyy reportedly devolved into a shouting match.

The dollar index climbed to 107.56 before paring some gains. The index was last seen at 107.56, up 0.3% from previous close.

Against the Euro, the dollar firmed to 1.0378, and against Pound Sterling, it strengthened to 1.2579.

The dollar climbed against the Japanese currency, fetching 150.62 yen a unit. Against the Aussie, the dollar firmed to 0.6208.

The Swiss franc weakened to 0.9030 a unit of the U.S. currency. The dollar firmed against the loonie to C$ 1.4466, gaining more than 0.2%.