The US dollar index is easing after hitting near four-week high as the markets focus on economic updates and strength in equities caps upside for the US currency. A report released by the Institute for Supply Management on Monday showed its reading on US manufacturing activity decreased in the month of December. The ISM said its manufacturing PMI edged down to 47.9 in December after slipping to 48.2 in November, with a reading below 50 indicating contraction. The inflationary pressures were also tepid with prices index component of the PMI coming in at 58.5 in December, unchanged from November. The US dollar index slipped under 98 mark following this and currently quotes at 97.94, down marginally on the day.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
