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U.S. dollar dips amid economic data

17 May 2022, 06:49 GMT+10

NEW YORK, May 16 (Xinhua) -- The U.S. dollar slipped in late trading on Monday as market participants digested a slew of economic data.

The dollar index, which measures the greenback against six major peers, fell 0.36 percent to 104.1870.

The euro, the largest component of the index, tried to rebound following its recent weakness.

In late New York trading, the euro increased to 1.0441 U.S. dollars from 1.0407 dollars in the previous session, and the British pound increased to 1.2320 U.S. dollars from 1.2242 dollars in the previous session. The Australian dollar was up to 0.6977 U.S. dollars from 0.6923 U.S. dollars.

The U.S. dollar bought 129.12 Japanese yen, lower than 129.30 Japanese yen of the previous session. The U.S. dollar fell to 1.0016 Swiss franc from 1.0026 Swiss franc, and it was down to 1.2841 Canadian dollars from 1.2932 Canadian dollars.

On the data front, the newly released New York Fed's Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 36.2 points to negative 11.6 in May. Economists polled by The Wall Street Journal had expected the index to fall slightly to a solid 16.5 reading.

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