The ISM Manufacturing PMI was released in the US today indicating that the US manufacturing sector is growing at a slow pace.
The index fell much more than expected to 53.5 in May versus a prediction of 57.7. April’s index was at 60.4.
An already falling Dollar extended more losses against the Swiss Franc to hit yet another record low, that was reached just hours earlier. USDCHF tumbled to 0.8382. Meanwhile USDJPY dropped within a minute of the news release at 14:00GMT from 80.84 to 80.65.