U.S. Dollar Weakens After Soft ISM Services PMI Data
(RTTNews) - The U.S. dollar fell against its major counterparts in the New York session on Friday, following the release of weaker-than-expected ISM services PMI data.
The nonfarm payrolls report was suspended due to U.S. government shutdown.
The ISM services PMI declined to 50.0 in September from 52.0 in August. The index came in below expectations of 51.7.
Chicago Fed President Austan Goolsbee said that he is wary of cutting interest rates soon amid threats to the central bank's mandate of stable prices and low unemployment.
The greenback fell to 1.1759 against the euro, before recovering to 1.1726 in subsequent trading.
The greenback edged down to 1.3486 against the pound and 147.05 against the yen, from an early high of 1.3427 and a 2-day high of 147.81, respectively. The next possible support for the currency is seen around 1.40 against the pound and 142.00 against the yen.
The greenback declined to a 2-day low of 0.7947 against the franc. If currency falls further, it is likely to find support around the 0.76 level.
The greenback dropped to 1.3939 against the loonie, 0.5838 against the kiwi and 0.6614 against the aussie. The currency may find support around 1.36 against the loonie, 0.61 against the kiwi and 0.68 against the aussie.
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