U.S. Dollar Weakens As ISM Services PMI Unexpectedly Edges Lower
The U.S. dollar dropped against its major counterparts in the
New York session on Wednesday, as the nation's service sector
growth unexpectedly slowed in the month of March.
The ISM said its services PMI dipped to 51.4 in March from 52.6
in February. While a reading above 50 still indicates growth in the
sector, economists had expected the index to inch up to 52.7.
The greenback weakened to a 6-day low of 1.0824 against the euro
and a 2-day low of 1.2624 against the pound, off its early highs of
1.0763 and 1.2562, respectively.
The greenback dropped to an 8-day low of 0.6548 against the
aussie and a 6-day low of 0.5991 against the kiwi, from its early
highs of 0.6503 and 0.5952, respectively.
The greenback fell to near a 2-week low of 1.3513 against the
loonie, from an early 6-day high of 1.3588.
The greenback declined to 0.9048 against the franc, from an
early multi-month high of 0.9095.
The greenback eased to 151.63 against the yen, from an early
1-week high of 151.95. This may be compared to a previous 2-day low
of 151.44.
The greenback is seen finding support around 1.10 against the
euro, 1.28 against the pound, 0.68 against the aussie, 0.62 against
the kiwi, 1.32 against the loonie, 0.89 against the franc and
146.00 against the yen.
US Dollar vs CHF (FX:USDCHF)
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US Dollar vs CHF (FX:USDCHF)
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