The dollar finished the first trading session of the month higher against its main rivals, retaining gains from early in the session despite a disappointing reading of U.S. manufacturing in July.The Institute for Supply Management’s manufacturing index showed a slight deceleration in July, after the index grew at its fastest rate in five months in June. The index came in at 52.7% in July, down from 53.5% in the prior month. Economists polled by MarketWatch had expected a reading of 53.7%.
The early report comes at the beginning of a busy week of economic data that culminates with Friday’s nonfarm payrolls report for July.
The euro EURUSD, -0.0639% finished the session around $1.0948, down 0.6% from $1.1010 late Friday in New York.
The dollar trimmed its early gains against the yen, recently trading at ¥123.95, USDJPY, +0.06% flat with its late-Friday level.
The ICE U.S. Dollar index DXY, +0.09% a measure of the dollar’s strength against a basket of six currencies, was up 0.2% at 97.4970.
Thursday, dubbed “Super Thursday” by some market strategists, is expected to be a volatile day for U.K. markets. It is the first time that a policy statement from the Bank of England’s rate-setting committee is set to be released alongside minutes from the meeting and a quarterly report on U.K. inflation.
The U.K. currency GBPUSD, +0.0385% fell to $1.5583, down 0.3% from $1.5622 late Friday in New York.
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