NEW YORK, Dec. 5 (Xinhua) — The U.S. dollar strengthened in late trade Monday as positive U.S. economic data raised expectations that the Federal Reserve could continue its aggressive tightening.
The Institute for Supply Management reported on Monday that the US services PMI (Purchasing Managers’ Index) registered 56.5 percent in November, up from October’s reading of 54.4 percent. Figures above 50 percent indicate expansion in the sector. Economists polled by The Wall Street Journal had expected the index to fall to 53.7 percent.
The dollar index, which measures the greenback against six major peers, rose 0.71 percent to 105.2920.
In late New York trading, the euro fell to US$1.0495 from US$1.0537 in the previous session, and the British pound fell to US$1.2176 from US$1.2289 in the previous session.
The US dollar bought 136.64 Japanese yen, higher than 134.47 Japanese yen from the previous session. The US dollar was up to 0.9426 Swiss francs from 0.9377 Swiss francs and it was up to 1.3589 Canadian dollars from 1.3463 Canadian dollars. The US dollar increased to SEK 10.4005 from SEK 10.3254.
Source: sn.dk