Wed, 10 Aug 2022

U.S. dollar slips amid economic data

Xinhua
02 Aug 2022, 06:55 GMT+10

NEW YORK, Aug. 1 (Xinhua) -- The U.S. dollar weakened in late trading on Monday as market participants digested newly released economic data.

The dollar index, which measures the greenback against six major peers, decreased 0.43 percent to 105.4500.

In late New York trading, the euro increased to 1.0257 U.S. dollars from 1.0224 dollars in the previous session, and the British pound was up to 1.2255 U.S. dollars from 1.2176 dollars in the previous session. The Australian dollar increased to 0.7022 U.S. dollars from 0.6996 U.S. dollars.

The U.S. dollar bought 131.83 Japanese yen, lower than 133.35 Japanese yen of the previous session. The U.S. dollar was down to 0.9506 Swiss franc from 0.9519 Swiss franc, and it increased to 1.2847 Canadian dollars from 1.2808 Canadian dollars.

The above moves came after data showed the U.S. manufacturing activity continued to cool in July as more factories dialed back production in the face of shrinking orders and rising inventories.

The Institute for Supply Management said Monday that its index of manufacturing activity declined to 52.8, the lowest level since June 2020, from 53 a month earlier. A reading above 50 indicates expansion in the sector.

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