US dollar trades mixed

New York, Sep 12 (IANS) The US dollar traded mixed against other major currencies as debate heated over whether or not the Federal Reserve would raise interest rate next week.

On the economic front, the Producer Price Index (PPI) for final demand was unchanged in August, but seasonally adjusted, it beat market expectations for a 0.1 percent decline, Xinhua quoted the US Labour Department as saying on Friday.

The PPI report indicated relatively low inflation level, therefore lowering market expectation for an interest-rate hike as early as this month.

The dollar index, which measures the greenback against six major currencies, was down 0.28 percent at 95.190 in late trading.

In late New York trading, the euro rose to $1.1336 from $1.1284 in the previous session, and the British pound fell to $1.5427 from $1.5470 in the previous session.

The Australian dollar traded flat at $0.7085. The US dollar bought 120.55 Japanese yen, lower than 120.68 yen of the previous session.

It dived to 0.9689 Swiss franc from 0.9716 Swiss franc and increased to 1.3256 Canadian dollars from 1.3199 Canadian dollars.

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