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US Dollar Gains Amid Global Growth Fears

The US dollar bought 109.19 Japanese yen, lower than 109.67 Japanese yen of the previous session

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The US dollar bought 109.03 Japanese yen, lower than 109.37 Japanese yen of the previous session.
US dollar edges up amid economic data., Pixabay

The US dollar rose as weak economic data from some major economies caused concerns over global growth, sparking demand for safe havens.

After accounting for seasonal factors, the IHS Markit Eurozone Manufacturing purchase management index (PMI) recorded a final reading of 51.4 in December, down from 51.8 in November, Xinhua news agency reported.

Although extending the current run of expansion to five-and-a half years, the latest PMI reading was the lowest seen since February 2016, said the data provider on Wednesday.

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US Dollar Image, pixabay

The dollar index, which measures the greenback against six major peers, increased 0.71 percent at 96.8145 in late trading.

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In late New York trading, the euro decreased to 1.1344 dollars from 1.1459 dollars in the previous session, and the British pound fell to 1.2609 dollars from 1.2738 U.S. dollars in the previous session. The Australian dollar was down to 0.6997 dollar from 0.7048 dollar.

The US dollar bought 109.19 Japanese yen, lower than 109.67 Japanese yen of the previous session. The US dollar increased to 0.9903 Swiss franc from 0.9824 Swiss franc, and it decreased to 1.3585 Canadian dollars from 1.3635 Canadian dollars. (IANS)

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Dip in Manufacturing Sector Leads To Fall in U.S. Dollar

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employment growth rate, wages
The trend in wage gains has slowed from late 2018 when wages were rising at their fastest rate in a decade. Pixabay

The US dollar decreased in late trading on Friday, as investors digested a mixed batch of US economic data, amid worries over slowing activities in the manufacturing sector.

In late New York trading, the euro increased to $1.1194 from $1.1175 in the previous session, and the British pound rose to $1.3164 from $1.3027 in the previous session, Xinhua news agency reported.

The Australian dollar was up to $0.7014 from $0.6997.

jobs

The disappointing data has partially offset robust US job statistics in April. Pixabay

The US dollar bought 111.09 Japanese yen, lower than 111.49 Japanese yen of the previous session. The US dollar fell to 1.0174 Swiss franc from 1.0193 Swiss franc, and it decreased to 1.3427 Canadian dollars from 1.3470 Canadian dollars.

The Institute for Supply Management’s non-manufacturing index declined to 55.5 per cent in April, 0.6 percentage point down from 56.1 per cent in March, which marks the slowest reading since August 2017, said the not-for-profit professional supply management organization on Friday.

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The dollar index, which measures the greenback against six major peers, decreased 0.31 per cent at 97.5208 in late trading. Pixabay

The reading fell far short of an estimate of 57.5 per cent by economists polled by MarketWatch.

The disappointing data has partially offset robust US job statistics in April.

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US total non-farm payroll employment increased by 263,000 in April, and the unemployment rate declined to 3.6 per cent, said the US Bureau of Labor Statistics on Friday, pointing to a bullish labor market.

The dollar index, which measures the greenback against six major peers, decreased 0.31 per cent at 97.5208 in late trading. (IANS)