U.S. dollar slips amid economic data

  • World
  • Wednesday, 06 Jan 2021

NEW YORK, Jan. 5 (Xinhua) -- The U.S. dollar weakened in late trading on Tuesday as market participants pored through newly-released economic data.

The dollar index, which measures the greenback against six major peers, fell 0.48 percent at 89.4400.

In late New York trading, the euro was up to 1.2302 U.S. dollars from 1.2252 dollars in the previous session, and the British pound was up to 1.3628 dollars from 1.3566 U.S. dollars in the previous session. The Australian dollar was up to 0.7772 U.S. dollar from 0.7670 dollar.

The U.S. dollar bought 102.64 Japanese yen, lower than 103.11 Japanese yen of the previous session. The U.S. dollar was down to 0.8779 Swiss franc from 0.8806 Swiss franc, and it decreased to 1.2667 Canadian dollars from 1.2772 Canadian dollars.

The market moves came as data showed economic activity in the U.S. manufacturing sector grew in the final month of 2020.

The December U.S. Manufacturing PMI (Purchasing Managers' Index) registered 60.7 percent, following the November reading of 57.5 percent, the Institute for Supply Management (ISM) reported on Tuesday.

"The manufacturing economy continued its recovery in December," but "absenteeism, short-term shutdowns to sanitize facilities and difficulties in returning and hiring workers are causing strains that are limiting manufacturing growth potential," said the ISM report.

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