MW : Dollar off highs after Chicago manufacturing data
NEW YORK (MarketWatch) -- The U.S. dollar came off earlier highs on Monday, losing some of its safe-haven appeal after a manufacturing survey from the Chicago area showed a better-than-expected improvement in August. The dollar index (DXY 78.46, +0.12, +0.16%) , which measures the U.S. unit against a basket of six major currencies, stood at 78.432, down from 78.520 earlier but still up from 78.324 late on Friday. The Chicago Purchasing Managers Index stood at 50.0 in August compared with 43.4 in July and above the 43.4 economists expected. Readings over 50 indicate overall business expansion. The dollar received a lift in early trade after another plunge in Chinese stocks lifted demand for safe-haven currencies.
