US dollar mixed amid global rout

GMT 14:55 2015 Wednesday ,02 September

Arab Today, arab today US dollar mixed amid global rout

US stocks
New York - XINHUA

The U.S. dollar traded mixed against other major currencies on Tuesday amid renewed turbulence in global equity markets.

U.S. stocks extended losses Tuesday as the broad-based sell-off around the world rattled nervous investors. Chinese shares slumped on weak economic data. European stocks also traded sharply lower as the falls across the board weighed on market sentiment.

Following the global rout, The greenback dropped against the safe-haven Japanese yen for a second day Tuesday. The dollar index, which measures the greenback against six major peers, was down 0.44 percent at 95.405 in late trading.

Meanwhile, the soft economic data added pessimism to the market. The U.S. August manufacturing PMI registered 51.1 percent, missing market consensus of 52.8 percent and a decrease of 1.6 percentage points from the July reading of 52.7 percent, said the Institute Supply Management (ISM) Tuesday.

The Commerce Department announced Tuesday that the U.S. construction spending in July was estimated at a seasonally adjusted annual rate of 1,083.4 billion U.S. dollars, 0.7 percent above the revised June estimate, slightly below market expectations.

In late New York trading, the euro rose to 1.1309 dollars from 1.1220 dollars in the previous session, and the British pound dropped to 1.5316 dollars from 1.5349 U.S. dollars in the previous session. The Australian dollar inched down to 0.7041 dollar from 0.7121 dollar.

The U.S. dollar bought 119.69 Japanese yen, lower than 121.20 yen of the previous session. The greenback dived to 0.9607 Swiss franc from 0.9675 Swiss franc, and increased to 1.3181 Canadian dollars from 1.3179 Canadian dollars.

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