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U.S. dollar rises on upbeat data

Xinhua, October 4, 2016 Adjust font size:

The U.S. dollar climbed against most major currencies on Monday as manufacturing data from the country came out better than expected.

The September purchasing managers' index in U.S. manufacturing sector registered 51.5 percent, an increase of 2.1 percentage points from the August reading of 49.4 percent, according to the Institute for Supply Management (ISM) Monday.

The latest reading was higher than market consensus of 50.2.

Analysts said the upbeat manufacturing data bolstered market speculation that the Federal Reserve may raise interest rates by year-end.

The dollar index, which measures the greenback against six major currencies, was up 0.24 percent at 95.696 in late trading.

In late New York trading, the euro fell to 1.1217 dollars from 1.1230 dollars, and the British pound declined to 1.2859 dollars from 1.2972 dollars. The Australian dollar increased to 0.7674 dollars from 0.7663 dollars.

The dollar bought 101.57 Japanese yen, higher than 101.40 yen in the previous session. The dollar inched up to 0.9733 Swiss francs from 0.9714 Swiss francs, and it fell to 1.3117 Canadian dollars from 1.3124 Canadian dollars. Enditem