Greenback stays reasonably decrease in quiet commerce

© Reuters. Dollar holds losses vs. other majors ahead of U.S. data

Investing.com – The dollar remained moderately lower against the other major currencies in quiet trade on Monday, as investors eyed the release of U.S. manufacturing data later in the day amid fresh concerns over the strength of the U.S. economy.

The dollar was steady against the yen, with at 120.62.

The greenback remained under pressure after the University of Michigan said on Friday that its fell to 90.0 this month from 92.1 in September, compared to expectations for a rise to 92.5.

In addition, the U.S. Bureau of Economic Analysis said that rose 0.1% last month, disappointing expectations for a 0.2% rise and after a 0.4% increase in August.

The data added to concerns over the strength of the economy after the Commerce Department said last Thursday that grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%.

added 0.17% to trade at 1.1022.

Data on Monday showed that growth in the euro zone’s manufacturing sector ticked higher in October. The final reading of rose to 52.3 from 52.0 in September.

The French factory sector posted modest growth with the coming in at 50.6 but growth in Germany’s factory sector slid to a three-month low, with the dipping to 52.1 from 52.3 in September.

Elsewhere, the dollar was lower against the pound and the Swiss franc, with up 0.23% at 1.5462 and with slipping 0.14% to 0.9862.

Sterling was boosted after Markit said that its jumped to a 16-month high of 55.5 last month from 51.8 in September. Economists had expected the index to tick down to 51.3.

The Australian dollar held steady, with at 0.7133, while dropped 0.53% to 0.6744.

Markets were jittery after data on Sunday showed that remained in contraction territory at 49.8 this month, unchanged from September and disappointing expectations for a rise to 50.0

Earlier Monday, data showed that rose to 48.3 in October from 47.2 the previous month, beating expectations for an uptick 47.5.

Meanwhile, edged up 0.15% to trade at 1.3101.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 96.89.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Greenback stays reasonably decrease in quiet commerce