The ICE U.S. Dollar index DXY, -0.14% —a measure of the buck’s strength against a basket of six rival currencies—jumped 0.8% to 97.3700, maintaining gains despite a weak reading from the Markit U.S. manufacturing purchasing managers index, which declined to 51 in the February flash estimate, its lowest level since 2012.
The pound GBPUSD, -0.2615% plunged to $1.4058, its lowest level in seven years and its largest daily drop since 2009, on heightened fears the U.K. will leave the European Union after London Mayor Boris Johnson came out in favor of a so-called Brexit. The U.K. currency traded at $1.4149 late Monday in New York, compared with $1.4406 late Friday.
The yen USDJPY, -0.61% dropped against the dollar, which gained to ¥112.81 late Monday, from ¥112.65 late Friday in New York.
In other currency-pair trading, the euro EURUSD, +0.1088% was at $1.1027 late Friday, down 1.1% from $1.1133, weighed down by Brexit worries and a weaker-than-expected preliminary reading on business activity.
Rising oil prices CLJ6, -1.23% helped support resource-linked currencies like the Canadian dollar CADUSD, -0.0729% and Norwegian krone USDNOK, +0.0686% against the buck. The Russian ruble USDRUB, -0.05% also soared thanks to its close correlation with the price of oil.
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