US: Industrial Production rises by 5.4% in June vs. 4.3% expected
|- Industrial Production in US rose more than expected in June.
- US Dollar Index stays deep in red near 96.80.
Industrial Production in the US increased by 5.4% in June following May's expansion of 1.4%, the data published by the Federal Reserve showed on Wednesday. This reading came in better than the market expectation of 4.3%.
Further details of the report revealed that Manufacturing Output rose by 7.2% in June and Capacity Utilization improved to 68.6% from 65.1%.
Market reaction
The US Dollar Index, which tracks the USD's performance against a basket of six major currencies, ignored these figures and was last seen losing 0.35% on the day t 95.84.
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