The dollar slipped against a slew of currencies on Friday. The drop was caused by the news of steady US business activity in November, but private sector employment declined in line with expectations for a fourth-quarter economic slowdown.

The lack of strong order growth resulted in businesses shedding workers, with the survey's employment index dropping to 49.7 in the first contraction since June 2020 from 51.3 in October. The dollar index , which measures the US currency with six peers, eased 0.4 % to 103.35 , staying close to the 2-1/2 month low of 103.17 touched earlier this week. For the week, the index was down 0.5%, after slipping 1.9% last week.


Source: reuters.com