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US dollar hits session lows after Empire State data

NEW YORK : The dollar fell to session lows against the yen and euro on Monday after a gauge of manufacturing in New Yor
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By Imad Uddin
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NEW YORK: The dollar fell to session lows against the yen and euro on Monday after a gauge of manufacturing in New York State showed the sector contracted for the third month in a row in August.

The dollar fell as low as 76.64 yen on trading platform EBS before recovering to 76.66 yen, flat on the day. Before the release of the data, the dollar was trading around 76.70 yen.

The euro initially pared gains versus the dollar after the data, before resuming its rally to hit a session high of $1.4349 on EBS. It was last at $1.4343, up 0.7 percent on the day.

 

Copyright Reuters, 2011

 

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