US dollar rises on economic data

By on July 4, 2017

(Photo: 401(K) 2012/ Flickr, CC BY-SA 2.0)
(Photo: 401(K) 2012/ Flickr, CC BY-SA 2.0)

NEW YORK, July 4 — The US dollar traded higher against other major currencies on Monday, as investors were digesting a batch of economic data from the country.

The June purchasing managers index came in at 57.8 percent, an increase of 2.9 percentage points from the May reading of 54.9 percent and beating market consensus of 55.1 percent, the Institute for Supply Management said Monday.

The seasonally adjusted IHS Markit final US Manufacturing Purchasing Managers’ Index registered 52.0 in June, down from 52.7 during May.

Meanwhile, US construction spending during May 2017 was estimated at a seasonally adjusted annual rate of USD1,230.1 billion, nearly the same as the revised April estimate, the Commerce Department said Monday.

The dollar index, which measures the greenback against six major peers, was up 0.62 percent at 96.221 in late trading.

In late New York trading, the euro fell to USD1.1360 from USD1.1410, and the British pound dropped to USD1.2939 from USD1.3002 in the previous session. The Australian dollar edged down to USD0.7654 from USD0.7680.

The US dollar bought 113.39 Japanese yen, higher than 112.42 yen of the previous session. The US dollar rose to 0.9639 Swiss franc from 0.9598 Swiss franc, and it edged up to 1.3003 Canadian dollars from 1.2969 Canadian dollars. (Xinhua)