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U.S. dollar advances after manufacturing PMI information

NEW YORK, Sept. 1 (Xinhua) — The U.S. dollar gained in late buying and selling on Friday, because the U.S. manufacturing index rose in August.

The dollar index, which measures the dollar towards six main friends, rose 0.60 % to 104.2294 in late buying and selling.

Manufacturing Purchasing Managers’ Index (PMI) launched by the Institute for Supply Management (ISM) on Friday stood at 47.6 for August after posting a 46.4 print in July. Numbers under 50 present contraction.

“The U.S. manufacturing sector shrank again, but the uptick in the PMI indicates a slower rate of contraction,” stated Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee. “The August composite index reading reflects companies managing outputs appropriately as order softness continues, but the month-over-month increase is a sign of improvement.”

The U.S. dollar index gained floor after the discharge of the better-than-expected ISM manufacturing PMI report, reversing earlier declines following a combined jobs report for August.

The U.S. Treasury yields moved greater after the report, offering further help to the American foreign money.

The Labor Department on Friday reported that U.S. nonfarm payrolls elevated by 187,000 jobs final month. The quantity for July was revised decrease to indicate 157,000 jobs added as a substitute of the beforehand reported 187,000.

In late New York buying and selling, the euro was all the way down to 1.0779 U.S. {dollars} from 1.0846 {dollars} within the earlier session, and the British pound decreased to 1.2593 U.S. {dollars} from 1.2665 {dollars}.

The U.S. dollar purchased 146.1410 Japanese yen, greater than 145.4070 Japanese yen of the earlier session. The U.S. dollar was as much as 0.8853 Swiss francs from 0.8830 Swiss francs, and it was as much as 1.3600 Canadian {dollars} from 1.3514 Canadian {dollars}. The U.S. dollar was as much as 11.0397 Swedish krona from 10.9402 Swedish krona.