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Asian currencies firm as soft U.S. manufacturing data dents dollar

Reuters 

By Shashwat PradhanREUTERS - Most Asian currencies climbed on Tuesday as the dollar came under pressure after a weak U.S. manufacturing report trimmed expectations of a U.S. rate increase next month, a key factor behind the dollar's gains in recent weeks.The New York Federal Reserve said on Monday its barometer on business activity in New York state unexpectedly fell in May, sinking into negative territory for the first time since October, prior to the U.S. presidential election.Analysts cautioned that the downturn could be a harbinger of possible deterioration in the manufacturing ...

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First Published: Tue, May 16 2017. 11:53 IST
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