Summary Dollar fell against euro on Monday after eurozone manufacturing data outshone a similar US report.
NEW YORK (AFP) - The dollar fell against the euro on Monday after eurozone manufacturing data outshone a similar US report.
The euro, which hit a session high of US$1.1536 and for the first time in nine months was trading above US$1.15, was fetching a tick below that, at US$1.1535, around 2100 GMT. On Friday, the greenback traded at US$1.1452 per euro.
The Markit eurozone PMI index for manufacturing was revised slightly higher for April, although growth in the 19-nation bloc remained lackluster.
Later in the day, the Institute for Supply Management issued its US manufacturing PMI, which showed growth slowing in the same month and at a weaker-than-expected pace.
"Most of the strengthening in the euro came after the ISM numbers," said Eric Viloria, currency strategist at Wells Fargo Securities. "The move above US$1.15, previously seen as a resistance level, could also have seen some further follow-through."
Traders remained largely focused on Japan, where the yen, already strong since the beginning of the year, soared last week after the Bank of Japan s decision to not provide more stimulus to the ailing economy.
The dollar and the euro advanced slightly against the yen, paring back some of last week s losses.
"Japan s economy minister call the recent strength in the yen extremely concerning but without commitment from the BOJ to ease policy further, a reversal in the yen s rally looks unlikely," said Omer Esiner of Commonwealth Foreign Exchange.
