Dollar falls on weak manufacturing report
NEW YORK (July 14) The U.S. dollar fell against most rivals Tuesday after data showed a sharp softening in the performance of regional manufacturers in July.
The greenback’s move lower is a continuation of broad-based dollar weakness during the past two weeks.
The Richmond Federal Reserve index, which measures manufacturing performance in the upper Southeast and mid-Atlantic regions, swung to a negative reading in July, with declines in new orders and shipments.
The ICE dollar index /quotes/zigman/1652083 DXY -0.16% , which measures the greenback against six other major currencies, fell to 82.077 from 82.235 late Monday in North American trade.
The WSJ Dollar index /quotes/zigman/9625991 XX:BUXX -0.12% , which uses a larger comparison basket, fell to 74.30 from 74.39.
“It’s been kind of a lackluster trade,” said Brad Bechtel, managing director at Faros Trading. “There’s not too much volume going through.”