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Dollar Falls, Yen Gains on Mixed Economic News

Guavy AI Editorial Team
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USD JPY
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The US dollar index DXY fell by -0.03% on Thursday, holding just above its three-month low set earlier in the day. The decline was attributed to strength in global stocks and a stabilization of crude oil prices.

The mixed economic news from the US contributed to the dollar's weakness. The August S&P manufacturing PMI fell more than expected, while the August S&P services PMI rose higher than anticipated.

In contrast, the yen gained strength as Japan's economy showed signs of improvement. The country's August S&P manufacturing PMI matched its strongest pace of expansion in 8.5 years, and the pace of inflation picked up last month.

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