U.S. dollar dips against euro on weak data

The U.S. dollar declined against euro on Monday as investors were digesting the soft economic data from the country.

U.S. personal income increased 0.2 percent in March, slightly less than market expectations, according to the Commerce Department Monday.

In March, personal consumption expenditures (PCE) increased 5.7 billion dollars, or less than 0.1 percent.

The manufacturing index, also known as the purchasing managers index (PMI), registered 54.8 in April, below market estimates and a decrease of 2.4 percentage point from the previous month reading of 57.2, the Institute for Supply Management (ISM) said in a report on Monday.

Analysts said the relatively weak economic data dented market sentiment for a rate-hike as soon as June.

In late New York trading, the euro rose to 1.0906 dollars from 1.0895 dollars, and the British pound fell to 1.2908 dollars from 1.2958 U.S. dollars in the previous session. The Australian dollar increased to 0.7534 U.S. dollar from 0.7486 U.S. dollar.

The U.S. dollar bought 111.83 Japanese yen, higher than 111.42 yen of the previous session. The U.S. dollar climbed to 0.9954 Swiss franc from 0.9940 Swiss franc, and it edged up to 1.3663 Canadian dollars from 1.3662 Canadian dollars. Endit