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Dollar Turns In Mixed Performance
(RTTNews) - The U.S. dollar turned in a mixed performance against its major counterparts on Friday with investors assessing the outlook for Federal Reserve's interest rate moves.
Data released by S&P Global indicated a faster rise in business activity at U.S.-based firms on the month of April.
The headline S&P Global Flash U.S. PMI Composite Output Index climbed to 53.5 in April from 52.3 in March, signaling the quickest upturn in business activity since May 2022. Economists had expected the index to inch up to 52.8.
The report also said the Flash U.S. Services Business Activity also rose to a twelve-month high of 53.7 in April from 52.6 in March, while the Flash U.S. Manufacturing PMI crept up to 50.4 from 49.2, signaling the first improvement in operating conditions at goods producers in six months.
The dollar index, which climbed to 102.12 around mid-morning, after having dropped to 101.65 in the European session, dropped to 101.72, down 0.12% from the previous close.
Against the Euro, the dollar was at 1.0992 at close, and against Pound Sterling, it dropped to 1.2440 from 1.2366.
Against the Japanese currency, the dollar, the dollar weakened a bit to 134.14 yen from 134.24 yen.
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