US Dollar Sluggish as Poor Manufacturing PMI Strengthens Case for Fed Pause
ISM MANUFACTURING KEY POINTS: Manufacturing activity edges down to 46.9 in May from 47.1 previously, slightly below expectations New orders sink, whereas the employment and production indices offset weakness in other components of the ISM PMI survey U.S. dollar extends losses as disappointing economic data reinforces the case for the Fed to hold rates steady …
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