US dollar mixed on economic data

New York, Nov 4 (IANS) The US dollar traded mixed against other major currencies on Tuesday as the economic data from the country came out negative.

The US commerce department said on Tuesday that new orders for factory goods declined 1.0 percent in September after a downwardly revised 2.1 percent drop in August. The latest reading was slightly below market consensus of a 0.9-percent decrease.

Meanwhile, investors were awaiting the closely-watched the US nonfarm payroll report due out on Friday to get a more comprehensive view of the recovery of the country’s labour market.

After its latest monetary policy meeting, the Federal Reserve kept the benchmark rate unchanged, yet left the door open for a rate hike at the next policy meeting in December.

The US central bank officials had said that whether they will increase interest rates by year-end or not depends mainly on the country’s employment situation and the level of inflation.

In late New York trading, the euro fell to $1.0963 from $1.1021 in the previous session, and the British pound rose to $1.5434 from $1.5412 in the previous session. The Australian dollar climbed to $0.7199 from $0.7137.

The US dollar bought 121.06 Japanese yen, higher than 120.75 yen of the previous session. The US dollar rose to 0.9906 Swiss franc from 0.9866 Swiss franc but went down to 1.3043 Canadian dollars from 1.3099 Canadian dollars.

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