U.S. dollar climbs amid expectations of further Fed policy tightening

NEW YORK, Dec. 5 (Xinhua) -- The U.S. dollar strengthened in late trading on Monday as upbeat U.S. economic data raised expectations that the Federal Reserve could continue its aggressive policy tightening path.

The Institute for Supply Management reported on Monday that the U.S. services PMI (Purchasing Managers' Index) registered 56.5 percent in November, up from the October's reading of 54.4 percent. Numbers over 50 percent indicate expansion in the sector. Economists polled by The Wall Street Journal had expected the index to drop to 53.7 percent.

The dollar index, which measures the greenback against six major peers, increased 0.71 percent to 105.2920.

In late New York trading, the euro fell to 1.0495 U.S. dollars from 1.0537 dollars in the previous session, and the British pound fell to 1.2176 U.S. dollars from 1.2289 dollars in the previous session.

The U.S. dollar bought 136.64 Japanese yen, higher than 134.47 Japanese yen of the previous session. The U.S. dollar was up to 0.9426 Swiss francs from 0.9377 Swiss francs, and it was up to 1.3589 Canadian dollars from 1.3463 Canadian dollars. The U.S. dollar increased to 10.4005 Swedish Kronor from 10.3254 Swedish Kronor.

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