Summary A poor report on US manufacturing last month sent the dollar lower against the euro on Monday.
WASHINGTON (AFP) - A poor report on US manufacturing last month sent the dollar lower against the euro on Monday, but it was little changed on the yen.
The ISM manufacturing purchasing managers index fell to 53.5 from 55.1 in December, with US business activity hampered by lower commodity prices and the West Coast dock slowdown, as well as a post-Christmas seasonal lull.
Analysts downplayed the significance of the slower manufacturing growth, and said ISM s coming services sector report will likely look better.
The euro meanwhile showed resilience from the ongoing showdown between the new Greek government and its troika creditors as Athens wages brinksmanship to earn better terms on its bailout program.
"Although the situation with Greece could still spin out of control with the country essentially defaulting on its sovereign debt, for now the negotiations continue and the currency market is breathing a sigh of relief, providing support for the euro," said Boris Schlossberg of BK Asset Management.
