MW: U.S. dollar declines more as stocks rally on ISM
SAN FRANCISCO (MarketWatch) -- The U.S. dollar deepened losses Monday after the Institute for Supply Management said its July survey fell to 55.5% vs. 56.2% in June, but beat expectations, giving more fuel to rallying equities. The dollar had been lower earlier after Chinese manufacturing data had been strong enough to pull investors away from safe-haven assets such as the dollar, and better European manufacturing data supported the euro. One euro bought $1.316 vs. $1.314 ahead of the midmorning report, and up from $1.306 late Friday. The dollar index (DXY 80.95, -0.59, -0.72%) fell to 80.996, down from 81.09 ahead of the data and 81.535 late Friday.
