European Session – Dollar surges to new 12-year high versus yen after ISM manufacturing data
Posted on June 1, 2015 at 2:48 pm GMTAfter lackluster trading during most of the European session, the US dollar surged following upbeat data from the Institute for Supply Management. The ISM manufacturing PMI index rose to a three-month high of 52.8 in May from 51.5 in April, beating forecasts for a reading of 52. The greenback rallied to a fresh 12-year high of 124.66 yen after the ISM data to reverse earlier losses when it fell to 123.84 after disappointing US personal spending data which unexpectedly stalled [..]