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1st LD Writethru: U.S. dollar falls despite upbeat data

Xinhua, March 2, 2016 Adjust font size:

The U.S. dollar decreased against most major peers on Tuesday despite positive economic data from the country.

The U.S. manufacturing index registered 49.5 percent in February, an increase of 1.3 percentage points from the January reading of 48.2 percent and topping market expectations, the Institute Supply Management (ISM) said Tuesday.

The U.S. economic data came out mixed recently. The National Association of Realtors said Monday that U.S. Pending Home Sales Index decreased 2.5 percent to 106.0 in January from an upwardly revised 108.7 in December. The latest reading was under market consensus of a 0.5-percent gain.

According to the second estimate released Friday by the Commerce Department, U.S. real gross domestic product (GDP) increased at an annual rate of 1.0 percent in the fourth quarter of 2015, beating the market consensus of 0.4 percent.

In the previous estimate, the increase in real GDP for the fourth quarter of 2015 was 0.7 percent.

In late New York trading, the euro fell to 1.0865 dollars from 1.0883 dollars of the previous session, and the British pound rose to 1.3962 dollars from 1.3916 dollars. The Australian dollar went up to 0.7181 dollar from 0.7140 dollar.

The dollar bought 114.06 Japanese yen, higher than 112.83 yen of the previous session. The greenback declined to 0.9998 Swiss franc from 0.9990 Swiss franc, and dropped to 1.3394 Canadian dollars from 1.3517 Canadian dollars. Endite