Investing.com - The dollar remained broadly lower against the
other major currencies on Friday, as the release of mostly
disappointing U.S. economic reports weighed on demand for the
In a revised report, the University of Michigan said its
consumer sentiment index rose to 81.8 in July, from a reading of
81.3 the previous month, confounding expectations for a rise to
The data came after the Labor Department said the U.S. economy
added 209,000 jobs last mont, disappointing expectations for an
increase of 233,000. The number of jobs added in June was revised
up to a 298,000 gain from a previously estimated rise of
The report also showed that the U.S. unemployment rate ticked up
to 6.2% last month, from 6.1% in June. Analysts had expected the
rate to remain unchanged in July.
However, the Institute of Supply Management reported that the
U.S. manufacturing purchasing managers' index rose to 57.1 in July,
from a reading of 55.3 in June, compared to expectations for an
increase to 56.0.
The euro rose against the dollar, with EUR/USD up 0.28% to
Markit research group earlier said that Germany's manufacturing
PMI fell to 52.4 last month from 52.9 in June. Analysts had
expected the index to remain unchanged.
For the entire euro zone, Markit said the manufacturing PMI
ticked down to 51.8 in July, from a reading of 51.9 the previous
month. Analysts had also expected the index to remain
The single currency also remained under pressure after official
data on Thursday showed that the annual rate of inflation in the
euro area slowed to a five year low of 0.4% in July from 0.5% in
The data added to pressure on the European Central Bank to
implement further stimulus measures to shore up growth and stave
off the threat of deflation in the currency bloc.
Sterling remained near fresh one-and-a-half month lows, with
GBP/USD shedding 0.26% to 1.6842.
Markit said the U.K. manufacturing PMI fell to 55.4 last month,
from a reading of 57.5 in June. Analysts had expected the index to
slip to 57.2 in July.
Elsewhere, the dollar was lower against the yen and the Swiss
franc, with USD/JPY edging down 0.11% to 102.68 and with
USD/CHF sliding 0.34% to 0.9057.
The dollar was also lower against its Australian, New Zealand and
Canadian counterparts, with AUD/USD adding 0.20% to 0.9313,
NZD/USD edging up 0.19% to 0.8515 and with
USD/CAD dipping 0.01% to 1.0904.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was down
0.17% at 81.40.
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