U.S. dollar rises after sharp decline

The U.S. dollar increased against most major currencies Tuesday after sharp decline in the previous session.

The greenback slumped against other major peers Monday as economic data from the country came out weaker than expected.

The U.S. manufacturing index, also known as the purchasing managers' index, registered 50.8 in April, a decrease of one point from March's reading of 51.8, according to the Institute for Supply Management Monday. The latest reading was lower than market consensus of 51.5.

The dollar index, which measures the greenback against six major peers, was down 0.48 percent at 92.637 in late trading Monday.

With no major data coming out Tuesday, the index rebounded 0.31 percent and registered 92.911 in late trading.

In late New York trading, the euro fell to 1.1514 U.S. dollars from 1.1523 dollars of the previous session, and the British pound dropped to 1.4542 U.S. dollars from 1.4670 dollars. The Australian dollar went down to 0.7487 dollar from 0.7657 dollar.

The U.S. dollar bought 106.40 Japanese yen, lower than 106.47 yen of the previous session. The dollar slipped to 0.9533 Swiss franc from 0.9550 Swiss franc and inched up to 1.2724 Canadian dollars from 1.2529 Canadian dollars. Endit