Do repost and rate:
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar slipped against a basket of currencies on Friday, after data showed U.S. business activity contracted for the first time in nearly two years in July as a sharp slowdown in the service sector outweighed continued modest growth in manufacturing. S&P Global on Friday said its preliminary – or “flash” – U.S. Composite PMI Output Index had tumbled far more than expected to 47.5 this month from a final reading of 52.3 in June. With a reading below 50 indicating business activity had contracted, it is a development likely to feed into a vocal d…
