US Biz
NEW YORK, Dec. 5 (Xinhua) --The U.S. dollar gained ground in late trading on Tuesday, after a better-than-expected Institute for Supply Management (ISM) Services Purchasing Managers' Index (PMI) for November.
The return of safe haven demand also bolstered the U.S. dollar on Tuesday.
The dollar index, which measures the greenback against six major peers, increased 0.33 percent to 104.0498 in late trading.
ISM said on Tuesday that its non-manufacturing PMI rose to 52.7 in November from 51.8, better than consensus expectation of 52.4. A reading above 50 indicates growth in the services industry, which accounts for more than two-thirds of the economy.
The HCOB Eurozone Composite PMI Output Index, which combines manufacturing and services sectors, came in at 47.6 for November. This suggests an ongoing decline in private sector output levels throughout the eurozone. In late New York trading, the euro was down to 1.0784 dollars from 1.0828 dollars in the previous session.
Britain's PMI Services for November improved to 50.9 from October's 49.5, indicating expansion for the first time in four months. PMI Composite also rose to 50.7, crossing the critical 50 mark for the first time since July. The British pound decreased to 1.2582 U.S. dollars from 1.2622 dollars in the previous session.
The U.S. dollar bought 147.2500 Japanese yen, lower than 147.2990 Japanese yen of the previous session. The U.S. dollar rose to 0.8754 Swiss francs from 0.8730 Swiss francs, and it was up to 1.3586 Canadian dollars from 1.3543 Canadian dollars. The U.S. dollar increased to 10.4986 Swedish kronor from 10.4473 Swedish kronor.