Dollar declines after PMI data
The United States dollar decreased compared to several other global currencies after May manufacturing data reports showed a slowdown in the sector. Currency trading seemed to be affected as the weakening of manufacturing in the world's strongest economy may cause the Federal Reserve to opt against further monetary tightening later this year.
The euro was 0.54% higher than the greenback, trading for 1.07458 at 11:47 am ET. The British pound rose by 0.72% compared to the American currency and changed hands for 1.25299 at the same time. The dollar decreased 0.44% in comparison to the Japanese yen, landing at 138.737 at 11:49 am ET.