Dollar Dips as Rally Peters Out, Most PMI Data Adds to Market Optimism

Dollar Dips as Rally Peters Out, Most PMI Data Adds to Market Optimism
U.S. dollar banknotes are seen in this illustration taken on March 10, 2023. Dado Ruvic/Reuters
Reuters
Updated:
0:00

LONDON/SINGAPORE—The dollar fell on Thursday as share markets hitting record highs drove optimism across asset classes and traders digested a slew of largely better-than-expected business activity surveys, looking for implications for interest rates.

Flash Purchasing Managers’ Index (PMI) figures showed the downturn in eurozone business activity eased in February as the dominant services sector broke a six-month streak of contraction, offsetting a deterioration in manufacturing.