The US dollar continued to strengthen against major currencies as the new year begins. US manufacturing ISM came in weaker than expected while PMI data of other countries also disappointed. The euro slumped, extending losses to the lowest level since 2006, in Asia on Monday while the pound also plunged. In the commodity sector, crude oil prices remained under pressure with the front-month WTI crude contract trading at US$51/bbl while the Brent crude contract around US$55/bbl.
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USD Gained as ISM, whilst Disappointing, Remains in Expansionary Territory
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