U.S. Dollar Struggles as Dallas Manufacturing Data Disappoints
Monday, 24 June 2019 23:18 WIB |
CURRENCIES |DOLLARCurrency Indeks Dolar
The U.S. dollar was near three-month lows on Monday after disappointing regional data and rising tensions between Iran and the U.S.
The U.S. dollar index, which measures the greenback™s strength against a basket of six major currencies, was down 0.1% to 95.59 by 10:45 AM ET (14:45 GMT).
The Dallas Fed manufacturing activity index for June came in weaker than expected at -12.1 compared to estimates for -1.0.
The data confirm declining activity across other regions in the U.S., as the Philly Fed activity index and Empire manufacturing index were also weaker. The numbers boost the case for the Federal Reserve to cut rates this year, as economic activity across the U.S. slows.
The dollar rose against the safe-haven Japanese yen, with USD/JPY up 0.1% to 107.40.
Elsewhere, the euro was stronger on the weak dollar, with EUR/USD up 0.3% to 1.1394, while GBP/USD slipped 0.2% to 1.2721 and USD/CAD fell 0.1% to 1.3202.
Source : Investing.com