US: Markit Manufacturing PMI (preliminary) comes in at 50.1 in June vs. 50.4 expected, DXY drops below 96.50
According to the preliminary data published by the IHS Markit, the business activity in the manufacturing sector in the United States is expected to expand at a very soft pace in June with the headline Manufacturing PMI dropping to 50.1 in June from 50.5 in May and falling short of the market expectation of 50.4
With the initial reaction, the US Dollar Index, which tracks the greenback's value against a basket of six major currencies, came under a renewed pressure and fell to its lowest level in two weeks below 96.50.
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