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1/3/06

Forbes.com- Dollar slips to 2-week euro low after disappointing US manufacturing news

Forbes.com

LONDON (AFX) - The dollar slipped to a two-week low against the euro after a key indicator of US manufacturing activity came in below expectations. The Institute of Supply Management's main manufacturing index fell to 54.2 in December from 58.1 in November, well below analysts' forecasts for a much more modest drop to around 57.6.

As a result, the euro climbed to a high of 1.20 usd from slightly above 1.19 before.

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