U.S. dollar slips amid economic data

The U.S. dollar decreased in late trading on Friday as market participants digested newly-released economic data.

The dollar index, which measures the greenback against six major peers, fell 0.28 percent to 104.5620.

In late New York trading, the euro rose to 1.0407 U.S. dollars from 1.0370 dollars in the previous session, and the British pound was up to 1.2242 dollars from 1.2174 U.S. dollars in the previous session. The Australian dollar increased to 0.6923 dollar from 0.6831 dollar.

The U.S. dollar bought 129.30 Japanese yen, higher than 128.12 Japanese yen of the previous session. The U.S. dollar fell to 1.0026 Swiss francs from 1.0045 Swiss francs, and it decreased to 1.2932 Canadian dollars from 1.3070 Canadian dollars.

On the data front, the University of Michigan reported Friday that its preliminary reading of consumer sentiment for May fell to 59.1 from a final April reading of 65.2, as concerns about inflation persisted. Economists polled by The Wall Street Journal had expected a print of 64.1.