NEW YORK, June 28 (Xinhua) -- The U.S. dollar declined in late trading on Friday, as U.S. consumer spending and personal income increased in May, pointing to tepid inflation level.
U.S. personal consumption expenditures (PCE), a key metric of household spending, ticked up 0.4 percent on a seasonally adjusted basis in May from the previous month, said the Commerce Department on Friday.
The growth came along with an increase of 88.6 billion U.S. dollars in personal income in the month, up 0.5 percent from the previous month.
The PCE price index rallied 0.2 percent in May. Excluding the volatile food and energy prices, the core PCE price index increased 0.2 percent.
Year over year, the core PCE price index, a preferred inflation gauge by the U.S. Federal Reserve, rose 1.6 percent in May, below the central bank's target inflation rate of 2 percent.
The dollar index, which measures the greenback against six major peers, was down 0.05 percent at 96.1415 in late trading.
In late New York trading, the euro increased to 1.1375 dollars from 1.1373 dollars in the previous session, and the British pound rose to 1.2702 dollars from 1.2665 U.S. dollars in the previous session. The Australian dollar rose to 0.7018 dollar from 0.7004 dollar.
The U.S. dollar bought 107.78 Japanese yen, higher than 107.73 Japanese yen of the previous session. The U.S. dollar fell to 0.9755 Swiss franc from 0.9759 Swiss franc, and it fell to 1.3082 Canadian dollars from 1.3093 Canadian dollars. Enditem
