US dollar slips on downbeat data

GMT 04:45 2016 Tuesday ,03 May

Arab Today, arab today US dollar slips on downbeat data

New York - XINHUA

The U.S. dollar declined against other major peers on Monday as economic data from the country came out weaker than expected.

U.S. manufacturing activity expanded at a slower pace in April, indicating that low oil prices and a strong U.S. dollar continue to weigh on the industry, according to the Institute for Supply Management Monday.

The manufacturing index, also known as the purchasing managers' index, registered 50.8 in April, a decrease of one point from March's reading of 51.8. The latest reading was also lower than market consensus of 51.5.

The dollar index, which measures the greenback against six major peers, was down 0.48 percent at 92.637 in late trading.

In late New York trading, the euro rose to 1.1523 dollars from 1.1448 dollars in the previous session, and the British pound increased to 1.4670 dollars from 1.4602 U.S. dollars in the previous session. The Australian dollar inched up to 0.7657 dollar from 0.7602 dollar.

The U.S. dollar bought 106.47 Japanese yen, lower than 106.69 yen of the previous session. The U.S. dollar fell to 0.9550 Swiss franc from 0.9593 Swiss franc, and it declined to 1.2529 Canadian dollars from 1.2543 Canadian dollars.

Source: XINHUA

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