FOREX-Dollar rises to new 5-week high vs euro on ISM
NEW YORK, May 1 (Reuters) - The dollar rose to fresh five-week highs against the euro on Thursday after a survey showed a key U.S. manufacturing index for April came in slightly better than expected.
The euro EUR= fell to $1.5448 against the dollar, the lowest since March 25, from $1.5477 before the data. Against the yen JPY=, the dollar edged up to 104.08 from 103.82 previously.
The Institute for Supply Management said its index of national factory activity was at 48.6, compared with forecasts of 48.0.
"The data is positive for the dollar with the idea that manufacturing is finding a bottom, the U.S. economy is finding a bottom and price pressures may become a more pressing concern for the Fed," said David Watt, senior currency strategist at RBC Capital Markets in Toronto. (Reporting by Gertrude Chavez-Dreyfuss and Nick Olivari; Editing by Theodore d'Afflisio)
