MH: Dollar ahead vs euro as US manufacturing rises
NEW YORK -- The dollar is rising against the euro after manufacturing activity rose in the U.S. last month but fell in Europe.
The Institute for Supply Management, a trade group of purchasing managers, said that its index of manufacturing activity rose to 53.4 in March from 52.4 in February. Readings above 50 indicate the industry is expanding.
Meanwhile, an index of manufacturing in the 17 countries that use the euro fell in March from the previous month. The results increased fears that the euro countries are in a recession.
The euro fell to $1.3312 in morning trading from $1.3334 late Friday.
In other trading, the British pound rose to $1.6012 from $1.5998. The dollar fell to 82.12 Japanese yen from 82.86. The dollar rose to 0.9063 Swiss franc from 0.9029.
