Manufacturing news hurts USD
by Elaine Frei
The US dollar was weaker versus the yen and about the same versus the euro on Thursday after new data showed that production was down in April in the US at the same time that the euro was helped by greater than anticipated economic growth in the Eurozone in the first quarter.
At just past 10:30 a.m. in New York it took ¥104.7950 to buy a dollar while the greenback traded at $1.5472 to the euro.
The pound weakened versus the euro while it remained little changed in relation to the US dollar, trading at 79.57p to the euro while it took $1.9445 to buy a pound.
Meanwhile, the New Zealand dollar declined versus the US dollar, trading as low as 75.58 cents US to the kiwi and at 75.75 cents US in morning trade in New York on retail sales that were down much more than expected in March and on drops in employment and home sales that all indicate a slowing of New Zealand’s economy.
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