Investing.com - The dollar pushed lower against the other major currencies on Monday, after downbeat U.S. manufacturing activity data and as Friday’s disappointing U.S. economic reports continued to weigh on the greenback.
EUR/USD gained 0.30% to 1.1193.
Data earlier showed that the Empire State manufacturing index fell to -4.2 from July's 0.55. Analysts had expected the index to improve to 2.5.
The downbeat data added to concerns over the strength of the U.S. economy and dampened expectations for a 2016 rate hike by the Federal Reserve after weaker than expected reports U.S. retail sales and producer price on Friday.
GBP/USD slipped 0.29% to a fresh one-month low of 1.2877.
USD/JPY edged down 0.12% to 101.15, while USD/CHF eased 0.09% to 0.9733.
Earlier Monday, preliminary data showed that Japan’s gross domestic product was flat in the second quarter, disappointing expectations for a 0.7% rise and after an upwardly revised growth rate of 2.0% in the three months to March.
Year-on-year, Japan’s economy grew 0.2% in the last quarter, compared to expectations for 0.7%.
The Australian dollar was stronger, with AUD/USD up 0.30% at 0.7669, while NZD/USD held steady at 0.7204.
Elsewhere, USD/CAD fell 0.32% to a fresh one-month trough 1.2911.
The commodity currencies were boosted by a rebound in oil prices amid growing hopes for production cuts by exporting countries.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.17% at 95.52, re-approaching Friday’s one-and-a-half week low of 95.19.