SYDNEY (Reuters) – The dollar shook off recent weakness on Friday as dismal economic news from Europe and the UK weighed on major rivals, while figures due later in the session are expected to point to some improvement in U.S. manufacturing. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo Against a basket of currencies, the dollar snapped a six-session losing streak overnight to stand at 96.747, up slightly from the recent six-month low around 96.355. It got a lift when surveys showed British factory output fell in December at the fastest rate since 2012, while the German manufacturing sector stayed deep in contraction. That took the shine off the pound, which eased to $1.3154, from a $1.3266 top on Thursday. The euro slipped to $1.1173, from a peak of $1.1225, backing away from major chart resistance around $1.1249. “It might be a bit too early to put a tombstone over the dollar just yet, especially against the EUR and GBP,” said Stephen Innes, chief Asia market strategist at AxiTrader. Of key importance will be if the Chinese yuan continued its recent rally against the dollar, he… Read full this story
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