U.S. Dollar Near 2-Month High as Manufacturing Increases

The dollar climbed to the highest in almost two months after a private-sector report showed U.S. manufacturing rose last month, adding to signals the world’s biggest economy is improving.

The euro approached the weakest level since February against the greenback as data showed inflation slowed in Germany (GRCP2HYY), Europe’s biggest economy, boosting speculation the European Central Bank will add stimulus this week to spur growth. The yen fell amid bets the nation’s pension funds will boost foreign asset purchases. Brazil’s real led losses among 24 emerging-market currencies tracked by Bloomberg.

“The dollar’s up pretty much across the board,” Omer Esiner, chief market analyst in Washington at Commonwealth Foreign Exchange Inc., a currency brokerage, said in a telephone interview. “The data is supporting the dollar against the yen and its major peers.”

Bloomberg

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