U.S. dollar slides after services PMI report
Mar 04, 2023
New York [US], March 4: The U.S. dollar weakened in late trading on Friday, following the release of the February U.S. services 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 to 1.0634 U.S. dollars from 1.0591 dollars in the previous session, and the British pound rose to 1.2045 U.S. dollars from 1.1943 dollars in the previous session.
The U.S. dollar bought 135.80 Japanese yen, lower than 136.78 Japanese yen of the previous session. The U.S. dollar fell to 0.9360 Swiss francs from 0.9420 Swiss francs, and it decreased to 1.3589 Canadian dollars from 1.3600 Canadian dollars. The U.S. dollar decreased to 10.4588 Swedish Kronor from 10.5117 Swedish Kronor.
The Institute for Supply Management reported Friday that U.S. services PMI (Purchasing Managers' Index) edged down to 55.1 percent in February from 55.2 percent in the prior month.
Economists polled by The Wall Street Journal had expected the index to drop to 54 percent. Numbers above 50 percent signal expansion in the sector, while numbers below indicate contraction.
Source: Xinhua
