Forex - Dollar broadly lower vs. rivals after weak U.S. data
Investing.com
Published May 04, 2011 10:46AM ET
During U.S. morning trade, the greenback was lower against the euro, with EUR/USD gaining 0.44% to hit 1.4891.
Official data showed earlier that euro zone retail sales fell sharply in March, pointing to weaker household demand.
The greenback was also lower against the pound, with GBP/USD rising 0.21% to hit 1.6520.
Earlier Wednesday, data showed that construction activity in the U.K. declined significantly more-than-expected in April, while lending to British consumers and homebuyers rose less-than-expected in March.
Elsewhere, the greenback was down against both the yen and the Swiss franc with USD/JPY shedding 0.37% to hit 80.62 and USD/CHF falling 0.43% to hit 0.8575.
Meanwhile, the greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD climbing 0.47% to hit 0.9566, AUD/USD shedding 0.36% to hit 1.0804 and NZD/USD plunging 1.14% to hit 0.7893.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.28%.
Earlier Wednesday, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 179,000 in April, disappointing expectations for a 200,000 increase.
In a separate report, the Institute of Supply Management said its non-manufacturing purchasing manager's index fell to 56.9 last month. Analysts had expected the index to ease up to 57.4 in April.
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Written By: Investing.com
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