1st LD Writethru: U.S. dollar rises after economic data

The U.S. dollar rose against other currencies Monday as economic data of the country boosted expectations for an interest rate hike from the Federal Reserve this year.

U.S. economic activity in the manufacturing sector expanded in May for the 29th consecutive month. The May manufacturing Purchasing Managers' Index (PMI) registered 52.8, an increase of 1. 3 percentage points over the April reading of 51.5, said the Institute for Supply Management (ISM).

The data, the highest reading since February, beat market consensus.

Federal Reserve Chair Janet Yellen said last month that, "If the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target."

Meanwhile, traders were closely watching the Greek debt crisis. The euro was under pressure as Greece inched closer to a Friday deadline to make a debt payment to the International Monetary Fund with no clear deal in sight.

In late New York trading, the euro lost to 1.0934 dollars from 1.0980 dollars of the previous session, and the British pound decreased to 1.5203 dollars from 1.5290 dollars. The Australian dollar went down to 0.7605 dollars from 0.7655 dollars.

The dollar bought 124.84 Japanese yen, higher than 124.06 yen of the previous session. The dollar moved up to 0.9456 Swiss francs from 0.9401 Swiss francs, and it moved up to 1.2526 Canadian dollars from 1.2445 Canadian dollars. Endite