Dollar rises amid economic data

New York, Jan 25 (IANS) The US dollar strengthened against its major rivals in late trading on Friday amid a slew of economic data.The IHS Markit Flash US Composite Purchasing Managers’ Index (PMI) posted 53.1 in January, up from 52.7 in December, according to a report by the London-based global information provider IHS Markit on Friday, the Xinhua news agency reported.The seasonally adjusted IHS Markit Flash US Services PMI registered 53.2 in January from 52.8 in December, while the Flash US Manufacturing PMI dipped to 51.7 in January from December’s reading of 52.4.The euro extended losses on Friday. The European Central Bank on Thursday decided to leave key interest rates for the euro area unchanged and to launch a review of its monetary policy strategy.The dollar index, which measures the greenback against six major peers, increased 0.17 per cent at 97.859 in late trading.In late New York trading, the euro was down to $1.1029 from $1.1055 in the previous session, and the British pound decreased to $1.3078 from $1.3117 in the previous session. The Australian dollar fell to $0.6822 from $0.6841.The US dollar bought 109.27 Japanese yen, lower than 109.52 Japanese yen of the previous session. The dollar was up to 0.9708 Swiss franc from 0.9696 Swiss franc, and it increased to 1.3142 Canadian dollars from 1.3128 Canadian dollars.–IANSrs/

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