Dollar index pares gains despite upbeat UoM report

The dollar remained broadly higher against a basket of other major currencies on Friday, as data showed that U.S. consumer sentiment improved more than expected this month and that U.S. producer prices rose slightly more than expected in May.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.94, down from four-day highs of 95.67 hit earlier.