U.S. dollar slips amid disappointing data

Xinhua
04 May 2021, 06:05 GMT+10

NEW YORK, May 3 (Xinhua) -- The U.S. dollar moved lower in late trading on Monday after data showed the April U.S. manufacturing index missed expectations.

The dollar index, which measures the greenback against six major peers, slipped 0.37 percent at 90.9487.

In late New York trading, the euro rose to 1.2066 U.S. dollars from 1.2022 dollars in the previous session, and the British pound was up to 1.3913 dollars from 1.3807 U.S. dollars in the previous session. The Australian dollar was up to 0.7765 U.S. dollar from 0.7704 dollar.

The U.S. dollar bought 109.10 Japanese yen, lower than 109.30 Japanese yen of the previous session. The U.S. dollar decreased to 0.9110 Swiss franc from 0.9134 Swiss franc, and it fell to 1.2274 Canadian dollars from 1.2281 Canadian dollars.

On the economic front, the U.S. Manufacturing PMI (Purchasing Managers' Index) dropped to 60.7 percent in April from 64.7 percent in March, the Institute for Supply Management (ISM) reported on Monday. A reading above 50 percent indicates that the manufacturing economy is generally expanding, while a reading below 50 percent indicates that it is generally contracting.

The April reading fell short of Wall Street estimates. Economists surveyed by Dow Jones and The Wall Street Journal had forecast the ISM index to edge up to 65 percent.

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