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US dollar falls amid economic data

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New York: The US dollar decreased against most other major currencies as investors meditated on a batch of mixed economic reports.

In late New York trading on Friday, the euro rose to $1.1199 from $1.1149 in the previous session, and the British pound climbed to $1.2725 from $1.2672 in the previous session, Xinhua news agency reported.

The Australian dollar gained to $0.7574 from $0.7542.

The US dollar bought 111.25 Japanese yen, lower than 111.32 yen of the previous session. The U.S. dollar decreased to 0.9690 Swiss franc from 0.9722 Swiss franc, and it moved up to 1.3260 Canadian dollars from 1.3242 Canadian dollars.

According to financial information company Markit on Friday, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index fell from 53.6 to 53.0 in June, missing than market expectations and signaling the slowest upturn in business activity for three months.

Meanwhile, sales of US new single-family houses in May were at a seasonally adjusted annual rate of 610,000, beating market consensus of 590,000, the Commerce Department reported on Friday.

The US dollar peaked at a one-month high on Tuesday after the Federal Reserve hiked interest rates last week and left the door open for further monetary tightening later in the year.

The dollar index, which measures the greenback against six major peers, dipped 0.36 per cent at 97.241 in late trading.

IANS

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