U.S. dollar slips amid downbeat data

U.S. dollar slips amid downbeat data

NEW YORK, Aug. 23 (Xinhua) — The U.S. dollar weakened in late trading on Tuesday, driven by a slew of lackluster economic data.

The dollar index, which measures the greenback against six major peers, decreased 0.39 percent to 108.6240.

In late New York trading, the euro was up to 0.9963 U.S. dollars from 0.9935 dollars in the previous session, and the British pound increased to 1.1818 U.S. dollars from 1.1753 dollars in the previous session. The Australian dollar was up to 0.6922 U.S. dollars from 0.6872 dollars.

The U.S. dollar bought 136.85 Japanese yen, lower than 137.50 Japanese yen of the previous session. The U.S. dollar increased to 0.9647 Swiss franc from 0.9646 Swiss franc, and it was down to 1.2964 Canadian dollars from 1.3051 Canadian dollars.

U.S. private sector firms signaled a sharp fall in business activity during August, according to a “flash” survey released Tuesday by S&P Global.

The headline flash U.S. PMI Composite Output Index registered 45 in August, down from 47.7 in July, and indicated a second successive monthly decrease in total business activity, showed the report. A reading above 50 signifies expansion, while a reading below indicates contraction.

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Author: Shirley