US dollar falls after services PMI report

US dollar falls after services PMI report

NEW YORK, March 3 (Xinhua) — The U.S. dollar weakened in late trade on Friday, following the release of the February U.S. jobs report.

The dollar index, which measures the greenback against six major peers, fell 0.48 percent to 104.5242.

In late New York trading, the euro was up at US$1.0634 from US$1.0591 in the previous session, and the British pound rose to US$1.2045 from US$1.1943 in the previous session.

The US dollar bought 135.80 Japanese yen, down from 136.78 Japanese yen from the previous session. The US dollar fell to 0.9360 Swiss francs from 0.9420 Swiss francs and it fell to 1.3589 Canadian dollars from 1.3600 Canadian dollars. The US dollar fell to SEK 10.4588 from SEK 10.5117.

The Institute for Supply Management reported Friday that the US services PMI (Purchasing Managers’ Index) fell to 55.1 percent in February from 55.2 percent the previous month.

Economists polled by The Wall Street Journal had expected the index to fall to 54 percent. Figures above 50 percent signal expansion in the sector, while figures below indicate decline.


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