US: ISM Manufacturing PMI rises to 60.8 in February, fresh three-year high

• ISM Manufacturing PMI jumped to its best level since February 2018.
• US Dollar Index clings to modest daily gains around 91.00.

The business activity in the US manufacturing sector grew at its strongest pace in three years with the ISM Manufacturing PMI rising to 60.8 from 58.7 in January. This reading came in higher than the market expectation of 58.8.

Further details of the publication revealed that the Employment Index improved to 54.4 from 52.6 and the Prices Paid Index rose to its highest level since July 2008 at 86. Finally, the New Orders Index edged higher to 64.8 from 61.1.

Market reaction

This report doesn't seem to be having a noticeable impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was up 0.17% on a daily basis at 91.03.