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Dollar pares losses vs yen on ISM services data

Mon Jul 6, 2009 10:10am EDT

(Updates with U.S. services sector data)

Currencies  |  Global Markets

NEW YORK, July 6 (Reuters) - The dollar pared losses against the yen on Monday after a report showed the U.S. services sector shrank less than expected in June.

The dollar was last down 1.2 percent against the yen at 94.91 yen JPY=EBS on electronic trading platform EBS, compared with 94.88 yen before the data. The euro EUR= was last down 0.3 percent at $1.3933, compared with $1.3924 before the report.

The Institute for Supply Management said its non-manufacturing index came in at 47.0 for June from May's 44.0. A reading above 50 signals expansion. Economists expected a reading of 46.0. (Reporting by Nick Olivari; Editing by James Dalgleish)

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