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U.S. dollar falls as April business activity indexes miss expectations 2023/4/25 source: Print

NEW YORK, April 24 (Xinhua) -- The U.S. dollar fell in late trading on Monday after the release of a weak Dallas Fed manufacturing index report and the Chicago Fed survey of economic conditions activity index.

The dollar index, which measures the greenback against six major peers, decreased 0.46 percent to 101.3522 in late trading.

In late New York trading, the euro rose to 1.1045 U.S. dollars from 1.0976 dollars in the previous session, and the British pound was up to 1.2482 U.S. dollars from 1.2430 dollars in the previous session.

The U.S. dollar bought 134.2900 Japanese yen, higher than 134.2030 Japanese yen of the previous session. The U.S. dollar fell to 0.8880 Swiss franc from 0.8931 Swiss franc, and it fell to 1.3539 Canadian dollars from 1.3548 Canadian dollars. The U.S. dollar fell to 10.2489 Swedish Krona from 10.3126 Swedish Krona.

The general business activity index in Texas fell to -23.4 in April, down from -15.7 in March, according to a manufacturing outlook survey published by the Federal Reserve Bank of Dallas on Monday. Economists had an expectation of -11.5. The production index under the survey read 0.9 in April, down from 2.5 in March.

The Federal Reserve Bank of Chicago reported Monday that the Chicago Fed national activity index stood at 0.19 in April, unchanged from the prior reading in March.

The Chicago Fed survey of economic conditions (CFSEC) showed that the activity index decreased to -37 in April from -8 in March, "suggesting that economic growth was well below trend."

The CFSEC manufacturing activity index dived to -55 in April, down from -7 in March, and the nonmanufacturing activity index declined to -24 in April from -9 in March.

The greenback will fall further against key currencies like the euro over the next six to 12 months, according to a research note by Swiss banking giant UBS on Monday.


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