USD Extends Losses After PMI Reading

The U.S. Dollar (USD) is maintaining a downward trend on Monday, opening the week with a negative performance across the board.

The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.18% at 92.

Earlier today, the index touched a daily low of 91.91 during the European session.

The USD’s decline comes despite the fourteenth consecutive positive reading of the Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI).

However, the PMI decreased in July by 1.1% to 59.5%.

The New Orders Index registered 64.9%, decreasing 1.1%.

The Production Index registered 58.4%, falling by 2.4%.

Meanwhile, the Employment Index registered 52.9%, rising by 3%.