US: Industrial Production Rises by 5.4% in June

Data released by the Federal Reserve on Wednesday showed industrial production in the U.S. increased 5.4% in June after expanding 1.4% in May. This reading was better than market expectations of 4.3%.

Other details of the report revealed that manufacturing output rose 7.2% in June and capacity utilization improved to 68.6% from 65.1%.

The US dollar index, which tracks the performance of the dollar against a basket of six major currencies, ignored these numbers and was recording a 0.35% loss to 95.84.