DJIA21636.78
LIVE-915.39(-4.06%)
NDX7588.37
LIVE-308.76(-3.91%)

Dollar Rises as U.S. Manufacturing Growth Returns; Pound Slumps


Tuesday, 4 February 2020 03:48 WIB

DOLLARPoundsterling


c_740_198_16777215_00_images_assets_CURRENCY2_Dolar-AS-Menguat-Kembali-terhadap-Rupiah.jpg

The dollar climbed Monday, on data showing manufacturing activity expanded in January for the first time in six months, while a slump in the pound also boosted the greenback amid fears the U.K and European Union could clash on trade.

The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.42% to 97.62.

The ISM manufacturing index for January showed an uptick to 50.9, beating expectations of 48.5. A reading above 50 in the ISM index indicates an expansion in manufacturing, which accounts for about 12% of the U.S. economy.

Still, many expect that the turnaround in manufacturing is unlikely to be repeated.

The weaker data did little to knock the dollar's advance thanks to a sharp decline in the pound.

GBP/USD fell 1.56% to $1.2994 as the U.K. and EU expressed opposing views on a future relationship, raising fears Britain risks leaving the economic bloc at the end of the transition period, Dec. 31, without a deal.

Source : Investing.com


RELATED NEWS

  • The euro has posted gains Thursday amid talk of a new debt instrument to combat the coronavirus outbreak as the death toll rises and the economic damage becomes more stark. At 4:10 ET (0810 GMT), EUR...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.