Dollar weakens after poor productivity numbers
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| Photo illustration of US$100 bills. (Photo: AFP/Mohd Rasfan) |
Towards 2100, the euro was at US$1.1115, up from US$1.1084 at 2100 GMT the day before. The dollar fell to 101.88 yen, down from 102.45.
However, the British pound fell slightly to US$1.3000 from US$1.3040.
The Labour Department reported on Tuesday that second-quarter productivity had fallen 0.5 per cent, marking a decline for the third consecutive quarter, a negative result which could lessen the likelihood of an increase in US interest rates in the near future.
Surprisingly robust second-quarter job figures published on Friday had helped keep the dollar strong in recent days.
Boris Schlossberg of BK Asset Management told AFP that investors were taking profits made since the jobs report but that markets otherwise were without direction.
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