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    Dollar slips lower versus rivals in quiet trade

    The dollar slipped moderately lower today against the rest of the major currencies in quiet trade, as remained cautious over global economic growth persisted after data on Monday showed that manufacturing activity in China contracted for a sixth straight month in January.
     
    Furthermore, after three sessions in a row oil price moved back toward $31 a barrel after hovering above $34 a barrel. As a result, the safe-haven yen strengthened against the dollar as oil prices resumed their downward trend, with USD/JPY to trade down 0.21% at 120.78.
     
    Elsewhere, the single currency was higher 0.21% against the dollar, with EUR/USD to trade at 1.0910.
     
    Eurostat announced earlier  on Tuesday that the euro zone’s unemployment rate drop 10.4% from 10.5% in November, which is the lowest rate recorded in the euro area since September 2011, missing analysts expectation of a steady hold of jobless rate at 10.5% in December.
     
    However, the dollar advanced against the Sterling pound and the Swiss franc, with GBP/USD down 0.29% at 1.4392 and with USD/CHF adding 0.12% to 1.0212.
     
    Sterling came under pressure after research firm Markit said its U.K. construction purchasing managers' index dropped to 55.0 last month from a reading of 57.8 in December missing economists predictions for an index decline of 57.5 in January.
     
    As declining oil prices dampened demand for the commodity-related loonie edged lower against its US counterpart, with USD/CAD gained 0.42% to 1.4002.
     
    The Australian and New Zealand dollars were weaker, with AUD/USD down 0.77% at 0.7058 and with NZD/USD retreating 0.98% to 0.6484.
     
    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was slipped 0.11% to 98.94.

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