The US dollar advanced in late trading on Friday, as traders might have overreacted to the possibility of the US Federal Reserve’s cut of interest rates. The dollar index, which measures the greenback against six major peers, was up 0.58% to 102.5523 in late trading. The manufacturing PMI remained in the contraction territory, declining to 48.2 from 49.4, while the services PMI improved to 51.3 from 50.8, according to S&P Global on Friday. “The drop-back in the eurozone composite PMI in December provides more evidence that the economy is in recession,” said Andrew Kenningham at Capital Economics. The US dollar bought 142.1810 Japanese yen, higher than the 141.9480 Japanese yen of the previous session.
