By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) — The U.S. dollar rose on Friday, the first day of the new quarter, with the markets reacting to a round of global manufacturing data and looking to more such data later in the day.
The dollar index DXY -0.02% , which measures the greenback against a basket of six other currencies, traded at 74.463, up from 74.314 in late North American action on Thursday.
Data out Thursday showed the Chicago PMI rose to 61.1%, up from 56.6%, well above economists’ forecasts. ISM data is due out in the U.S. trading day on Friday.
“With the Greek vote behind us, and Quantitative Easing 2 officially over, all eyes will be on the [U.S.] economy again,” strategists at BNP Paribas said.
They said the ISM survey is likely to fall to 51.0 in June, to remain barely in expansion territory “as still-strong activity in the high-tech sector offsets the weakness in the East Coast regions.”
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Greek lawmakers back reforms
The Greek parliament has approved detailed austerity and privatization bills in a crucial vote to secure emergency funds and avert imminent bankruptcy. Video courtesy of Reuters.
Earlier in the global trading day, surveys showed that China’s manufacturing activity slowed more than expected in June. Read more on China PMI data.
The U.K. and continental Europe are also due to release manufacturing data on Friday.
The euro EURUSD +0.12% traded at $1.4489, down from $1.4521 late Thursday.
The European currency touched a three-week high on Thursday, after Greece’s parliament voted to approve legislation to implement austerity measures.
The dollar gained against the yen, with a separate survey out Friday showing that business sentiment among Japanese manufacturers sharply deteriorated in the April-June quarter. Read more on Japan’s tankan survey.
The dollar USDJPY +0.17% bought ¥80.72, up from ¥80.47 in late trading on Thursday.
Sarah Turner is MarketWatch's bureau chief in Sydney.Q
