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Home>UPDATE: Dollar pares loss after better-than-expected data

UPDATE: Dollar pares loss after better-than-expected data

UPDATE: Dollar pares loss after better-than-expected data

10/05/2017

By Anneken Tappe

European PMIs push euro, sterling higher

The U.S. dollar pared its losses against some of its rivals after a gauge of service-sector activity came in stronger than expected, pointing to strength in the U.S. economy and lifting expectations that the Federal Reserve will continue to tighten monetary policy in 2017.

Where did currencies trade?

The ICE U.S. Dollar Index , which measures the U.S. currency against six rivals, was off 0.1% at 93.458 on Thursday morning in New York. The WSJ U.S. Dollar Index --a broader measure of the greenback--also slipped 0.1% to 86.57.

European currencies were helped by better-than-expected purchasing managers index readings on the service sector. The euro rose to $1.1765 against the dollar, up from $1.1746. Similarly, the British pound strengthened to $1.3253, versus $1.3239 late Wednesday.

Compared with the Swiss franc , the greenback bought 0.9749 francs, slightly up from 0.9737 late Wednesday.

Against the Japanese yen , the buck slipped to Yen112.72, compared with Yen112.85.

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