US dollar weakens amid downbeat data

Source:Xinhua Published: 2019/6/22 3:51:14

The US dollar declined against its major rivals in late trading on Friday as market participants digested a slew of downbeat economic data.

The seasonally adjusted IHS Markit Flash US manufacturing Purchasing Managers' Index (PMI) registered 50.1 in June, down from 50.5 in May, according to a report released by British information provider IHS Markit on Friday.

The reading was the lowest since September 2009 and only fractionally above the neutral 50.0 threshold.

Meanwhile, seasonally adjusted IHS Markit Flash US services PMI Business Activity Index was 50.7 in June, down from 50.9 in May, marking the slowest growth of service output since the current upturn began in March 2016, said the report.

The dollar index, which measures the greenback against six major peers, fell 0.42 percent at 96.2195 in late trading.

In late New York trading, the euro was up to 1.1368 dollars from 1.1292 dollars in the previous session, and the British pound was up to 1.2735 dollars from 1.2699 U.S. dollars in the previous session. The Australian dollar rose to 0.6926 dollar from 0.6923 dollar.

The US dollar bought 107.41 Japanese yen, higher than 107.27 Japanese yen of the previous session. The US dollar decreased to 0.9769 Swiss franc from 0.9806 Swiss franc, and it rose to 1.3209 Canadian dollars from 1.3191 Canadian dollars.

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