Fri, 03 Feb 2023

U.S. dollar slips after economic data

25 Jan 2023, 07:18 GMT+10

NEW YORK, Jan. 24 (Xinhua) -- The U.S. dollar weakened in late trading on Tuesday as market participants digested a slew of economic data.

The dollar index, which measures the greenback against six major peers, decreased 0.19 percent to 101.9150.

In late New York trading, the euro was up to 1.0884 U.S. dollars from 1.0860 dollars in the previous session, and the British pound decreased to 1.2338 U.S. dollars from 1.2371 dollars in the previous session.

The U.S. dollar bought 130.02 Japanese yen, lower than 130.66 Japanese yen of the previous session. The U.S. dollar rose to 0.9230 Swiss francs from 0.9223 Swiss francs, and it decreased to 1.3362 Canadian dollars from 1.3383 Canadian dollars. The U.S. dollar weakened to 10.2009 Swedish Kronor from 10.2548 Swedish Kronor.

The above market reactions came after data showed private sector contraction in the United States continued into the new year, with renewed pick up in cost pressures.

The S&P Global flash U.S. manufacturing purchasing managers index (PMI) registered 46.8 in January, following December's reading of 46.2, signaling a solid decline in operating conditions at the start of 2023, showed data released on Tuesday.

The S&P Global flash U.S. services business activity index posted 46.6 in January, up from 44.7 in December. Any number above 50 suggests expansion in the sector, while a number below indicates contraction.

More Switzerland News

Access More

Sign up for Switzerland News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!