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U.S. dollar rises on upbeat data

Xinhua, January 4, 2017 Adjust font size:

The U.S. dollar climbed against most major currencies on Tuesday as economic data from the country came out overall positive.

The December purchasing managers' index (PMI) registered 54.7 percent, an increase of 1.5 percentage points from the November reading and beating market consensus, according to the Institute for Supply Management (ISM) Tuesday.

Meanwhile, the U.S. Department of Commerce announced Tuesday that construction spending during November 2016 was estimated at a seasonally adjusted annual rate of 1,182.1 billion U.S. dollars, 0.9 percent above the revised October estimate of 1,171.4 billion dollars, beating market consensus of a 0.6-percent gain.

The dollar index, which tracks the greenback against six major peers, touched 103.820 during the session on Tuesday, its highest level since December 2002. The index was up 0.45 percent at 103.240 in late trading

In late New York trading, the euro fell to 1.0410 dollars from 1.0527 dollars, and the British pound declined to 1.2235 dollars from 1.2313 dollars. The Australian dollar increased to 0.7222 dollars from 0.7216 dollars.

The dollar bought 117.65 Japanese yen, higher than 116.83 yen in the previous session. The dollar rose to 1.0275 Swiss francs from 1.0192 Swiss francs, and it edged down to 1.3432 Canadian dollars from 1.3436 Canadian dollars. Enditem