Dollar Slides to 10-Day Low Ahead of Payroll Data
Friday, 1 November 2019 15:50 WIB | CURRENCIES |EUR/USDPoundsterlingCurrencyDOLLAR

The dollar fell to its lowest in some 10 days in early trading in Europe amid hopes that the world economy may be bottoming out.

Those hopes rested largely on a Chinese business survey by Caixin/IHS Markit, which showed the strongest improvement in operating conditions for Chinese manufacturers since February 2017. Output and new orders both expanded at steeper rates, with the latter supported by a renewed increase in export business.

That contrasted sharply with a more gloomy reading from the state-compiled PMI earlier in the week, which showed continued weakness.

By 4:30 AM ET, the dollar index, which tracks the dollar against a basket of developed market currencies, was down 0.1% at 97.037, on course for a 0.6% drop on the week. Sterling was up 0.2% at $1.2966 while EUR/USD was up 0.1% at $1.1157.

Source : Investing.com

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