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Sunday, April 17, 2016

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Location: Investing.com - The dollar slid against the other major currencies on Friday following the release of lackluster U.S. economic reports, but the greenback still ended the week higher. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.27% to 94.68 in late trade, but was still up 0.46% for the week. The drop in the dollar came after reports showing that U.S. industrial production fell more than expected in March and consumer sentiment deteriorated slightly this month. The University of Michigan said the preliminary reading of its consumer sentiment index came in at 89.7 in April, down from 91.0 in March and lower than the 92.0 reading forecast by economists. Another report showed that U.S. industrial output fell 0.6% in March, worse than the 0.1% decline economists had expected.