Shutterstock photo
Markets

Dollar lower against euro, yen

Shutterstock photo

Shutterstock photo

Investing.com - The dollar was lower against the euro on Monday as improved euro zone manufacturing data boosted the single currency, while the yen was supported by safe haven demand.

During European late morning trade, the euro was higher against the dollar, with EUR/USD climbing 0.18% to 1.3018.

The euro touched session highs after data showed that May's manufacturing purchasing managers' index improved to 48.3 from 47.8 in April.

Germany's manufacturing PMI was revised up to 49.4 in May from a final reading of 48.1 in April and above the preliminary reading of 49.0.

The dollar was close to three-week lows against the yen, with USD/JPY slipping 0.10% to 100.31 as falls in Japanese equities bolstered demand for the safe haven yen.

The dollar was also lower against the pound, with GBP/USD rising 0.43% to 1.5260.

The U.K. manufacturing PMI rose to 51.3 in May; the fastest rate of growth in 14 months, while April's reading was revised up to 50.2 from a preliminary estimate of 49.8.

The dollar was little changed against the Swiss franc, with USD/CHF dipping 0.02% to 0.9555.

In Switzerland, a report showed that the SVME PMI rose to 52.2 last month from 50.2 in April, beating expectations for a reading of 50.9.

The greenback was broadly lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD advancing 0.82% to trade at 0.9653, NZD/USD up 0.59% to 0.7992 and USD/CAD down 0.18% to 1.0348.

The commodity linked currencies remained supported after official data on Sunday showed that China's manufacturing PMI to rose to 50.8 in May from 50.6 in April.

This offset data on Monday showing that China's final HSBC PMI fell to 49.2 in May from a flash reading of 49.6 and down from 50.4 in April.

A separate report showed that retail sales in Australia rose 0.2% in April, less than the expected 0.3% increase.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.21% to 83.13.

The Institute of Supply Management was to release data on manufacturing activity in the U.S. later Monday.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx