A set of US dollar banknotes are fanned out for a photo.

Igor Golovniov | SOPA Images | LightRocket via Getty Images

The dollar fell against major currencies on Friday as U.S. yields languished and the euro was boosted by an upbeat survey of purchasing managers.

The dollar index was off 0.5% at 90.86, around levels it saw in early March. It has given up some of the gains made earlier in the year when yields on 10-year U.S. Treasuries notes were rising.

The yields on the notes hovered around 1.56% on Friday, as they have been all week. They had reached 1.75% at the end of March.

The euro rose 0.3% on the day to $1.2055 after a purchasing managers’ index for April came in better than expected in the euro zone and supported the view that the region’s economic recovery is accelerating and won’t lag as far behind the U.S. recovery as earlier.

A similar U.S. survey also came out later on Friday and seemed to buoy the dollar shortly…

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