NEW YORK, Sept. 6 (Xinhua) — The U.S. dollar ended almost flat in late buying and selling on Wednesday, as U.S. Treasury yields climbed with the rate-hike odds on robust ISM companies knowledge.
The dollar index, which measures the dollar towards six main friends, elevated 0.05 % to 104.8613 in late buying and selling.
The seasonally adjusted ultimate S&P Global U.S. Services PMI Business Activity Index posted 50.5 in August, down sharply from 52.3 in July. The Composite Index was revised decrease from 50.4 to 50.2, the bottom since February.
“The survey data send a hint of rising stagflation risks, as stubborn price pressures are accompanied by a near-stalling of business activity,” mentioned Chris Williamson, chief enterprise economist at S&P Global Market Intelligence.
The dollar weakened reasonably after the report, earlier than it later rebounded, for the reason that Institute for Supply Management (ISM) mentioned on Wednesday its non-manufacturing PMI rose to 54.5 final month, the best studying since February and up from 52.7 in July.
The market-implied odds of a quarter-point Fed fee enhance in November climbed to round 60 %, from near 50 %, after the August ISM companies index and associated measures of costs and employment rose sharply.
In late New York buying and selling, the euro elevated to 1.0725 U.S. {dollars} from 1.0721 {dollars} within the earlier session, and the British pound fell to 1.2505 U.S. {dollars} from 1.2566 {dollars} within the earlier session.
The U.S. dollar purchased 147.6940 Japanese yen, decrease than 147.7660 Japanese yen of the earlier session. The U.S. dollar rose to 0.8915 Swiss francs from 0.8896 Swiss francs, and it rose to 1.3653 Canadian {dollars} from 1.3638 Canadian {dollars}. The U.S. dollar was as much as 11.1229 Swedish krona from 11.1026 Swedish krona.