Dollar higher as US business activity ticks up in October

NEW YORK, Oct 24 - The dollar climbed against a basket of currencies on Tuesday as a slew of fresh economic data highlighted the strength of the U.S. economy relative to the United Kingdom and the European Union.

The dollar index , which measures the currency's strength against a basket of six rivals, was 0.6% higher at 106.19. The index had slipped to a one-month low of 105.35 earlier in the session. Earlier on Tuesday, survey data showed that euro zone business activity took a surprise turn for the worst this month in a broad-based downturn across the region, suggesting the bloc may slip into recession.German data was particularly glum. The purchasing managers' index survey showed that the service sector joined the manufacturing sector in contractionary territory.

The dollar was last up 0.1% at 149.875 yen , keeping traders nervous about possible government intervention to prop up the Japanese currency.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

10-yr Treasury yield passes 5%, stocks at seven-month lowsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Wall St opens lower as 10-yr yield hits 5%; Big Tech earnings in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Rising bond yields, Middle East conflict weigh on European stocksKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »