The dollar fell against major currencies on Friday as U.S. yields languished and the euro got an extra late-day lift following a earlier boost from an upbeat survey of purchasing managers.
The dollar index fell 0.5% to 90.8080, a level not seen since early March, after the euro climbed 0.7% to $1.2098, pushing through its earlier high for the week.
More than half of the euro’s appreciation came late in the day after the market digested earlier economic news.
“This is thin markets on a Friday afternoon,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. “The euro making new highs for the week late in the day suggests it is going to have momentum into next week.”
The exaggerated move came after the markets saw a European purchasing managers’ index for April come in better…