Dollar Rises Versus Euro First Time in 3 Days on Manufacturing
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The dollar gained against the euro for the first time in three days after a report showed U.S. manufacturing expanded in October at the fastest pace in five months, boosting demand for higher-yielding assets.
The greenback also advanced versus the yen as the Institute for Supply Management’s factory index unexpectedly rose. The dollar was still down versus half of its 16 most-traded counterparts amid speculation the Federal Reserve will say this week it plans to increase bond purchases and before tomorrow’s U.S. elections. The Swiss franc dropped after a Chinese manufacturing index rose in October, damping haven demand.