US manufacturing activity weakened in January but beat economists´ forecasts.
The Institute of Supply Management’s (ISM) purchasing managers' index declined 0.2% to 59.1 in January versus the December reading.
The ISM survey detected slowing growth in new orders, production and employment, though there was also growth in export orders, prices and inventories.
“There's plenty of good news here for the US dollar. I wouldn't say the rise in prices paid is a huge deal because commodity prices are a big part of it but it certainly fits into a hawkish theme.The weak dollar is the other theme and that appears to be helping. The biggest net percentage of US manufacturers are reporting increases in new export orders since April 2011,” commented Adam Button of forexlive.
The dollar continued its weak run on Thursday, down by around 0.5% against the euro as at 1652 GMT.