Dollar at Two-Month Low ahead of ISM - 1.5.2012

US dollar dropped today to the lowest level in two months, according to the currency’s index. The gauge slid to 78.62 before April US ISM figures are released today. The measure of industrial activity is expected to be at around 53, from 53.4 in March, reflecting a slightly slower growth pace in April. Earlier in the global day the data from China showed that the nation’s manufacturing industry expanded for a fifth month in April – the PMI increased to 53.3 from 53.1 in March. The dollar was mixed today, having gained substantially against the aussie, but weakened versus the swissie and the euro.