US dollar climbs amid economic data

The US dollar strengthened in late trading on Tuesday as market participants digested a slew of newly-released economic data.

The dollar index, which measures the greenback against six major peers, rose 0.21 per cent at 92.3572.

In late New York trading, the euro was down to $1.1907 from $1.1935 in the previous session, and the British pound rose to $1.3377 from $1.3376 in the previous session. The Australian dollar decreased to $0.7367 from $0.7387, Xinhua reported.

The US dollar bought 105.96 Japanese yen, higher than 105.87 Japanese yen of the previous session. The U.S. dollar rose to 0.9094 Swiss franc from 0.9032 Swiss franc, and it rose to 1.3074 Canadian dollars from 1.3027 Canadian dollars.

The moves came after data showed economic activity in the US manufacturing sector grew last month.

US manufacturing Purchasing Managers’ Index registered 56 per cent in August, up from the July reading of 54.2 per cent, the Institute for Supply Management reported on Tuesday. Readings over 50 per cent indicate expansion in the sector.

Economists surveyed by MarketWatch had forecast the index to total 54.9 per cent.