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US dollar declines as trade fears linger

US dollar declines as trade fears linger

New York: The US dollar declined on Friday as investors monitored global trade prospects and digested the manufacturing data.

The seasonally adjusted IHS Markit Flash US Manufacturing Purchasing Managers’ Index (PMI) registered 50.6 in May, down from 52.6 in April, marking the lowest level since September 2009, data from the research firm showed on Thursday.

Disappointing manufacturing data and lingering global trade tensions led to investors’ concerns over the world’s largest economy and its currency’s safe-haven status, the Xinhua news agency reported.

The dollar index, which measures the greenback against six major peers, was down 0.28 percent at 97.5810 in late trading.

In late New York trading, the Euro was up to 1.1209 dollars from 1.1183 dollars in the previous session and the British pound increased to 1.2713 dollars from 1.2654 US dollars in the previous session. The Australian dollar increased to 0.6930 dollars from 0.6892 dollars.

The US dollar bought 109.33 Japanese Yen, lower than 109.47 Japanese Yen of the previous session. The US dollar was down to 1.0014 Swiss francs from 1.0027 Swiss francs, and it decreased to 1.3440 Canadian dollars from 1.3486 Canadian dollars.

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