Dollar extends losses vs yen after U.S. services report
NEW YORK, July 3
NEW YORK, July 3 (Reuters) - The dollar extended losses against the yen on Wednesday after a report showed the U.S. services sector in June grew at its slowest pace in more than three years.
The Institute for Supply Management said its services index fell to 52.2 last month from 53.7 in May, short of economists' forecasts for a gain to 54. While a reading above 50 indicates expansion in the sector, June's decline brought growth to its lowest level since February 2010.
The dollar fell further against the yen to 99.54 yen, down 1.1 percent, from 99.70 just before. The euro also gained slightly to trade little changed at $1.2982 from $1.2969 before the data's release.