Dollar trades unevenly in tight ranges against key currencies after steep drop in U.S. industrial production, benign consumer prices.
- Industrial production in October slides 1.1 percent from September's 1.0 percent drop. Capacity use slumps to 74.8 percent, from 75.7. Industrial output is off for 13th straight month, its longest string of declines since July 1932.
- Euro/dollar slips off day's highs above 88.60 cents , orbits 88.40 cents but up 0.30 percent from prior U.S. close. Single currency also marginally underpinned after German Chancellor Gerhard Schroeder wins confidence motion.
- Dollar/yen tests session highs above 122.80 yen. its strongest level in more than 3 weeks and up more than 0.40 percent on the day. Euro/yen extends gains, floats around 108.70 yen , up more than 0.80 percent on the day.
- U.S. core CPI falls 0.3 percent in October, led by steep decline in energy prices. Core prices rise 0.2 percent, slightly more than what Wall Street had expected.
- U.S. stocks open in positive territory, with Dow Jones up 20 points and Nasdaq up more than 1 point.