US: Industrial Production rises by 5.4% in June vs. 4.3% expected

• Industrial Production in US rose more than expected in June.
• US Dollar Index stays deep in red near 96.80.

Industrial Production in the US increased by 5.4% in June following May's expansion of 1.4%, the data published by the Federal Reserve showed on Wednesday. This reading came in better than the market expectation of 4.3%.

Further details of the report revealed that Manufacturing Output rose by 7.2% in June and Capacity Utilization improved to 68.6% from 65.1%.

Market reaction

The US Dollar Index, which tracks the USD's performance against a basket of six major currencies, ignored these figures and was last seen losing 0.35% on the day t 95.84.