Dollar slips versus euro after weak Empire State reading

The dollar weakened Monday against the euro and a host of other rivals after Federal Reserve data showed a decline in New York-area manufacturing activity.

The euro EURUSD, -0.0442%  rose to $1.1319 late Monday in New York, compared with $1.1308 late Friday, after the Empire State general business conditions index plummeted to a reading of negative 9 for early May, down from 9.6 in April.

That data weighed on global stocks and some emerging-market currencies, including the South African rand USDZAR, -0.5034% and Turkish lira USDTRY, -0.3460% market strategists said. Another notable exception to Monday’s broad-based dollar weakness was the yen. The greenback USDJPY, -0.03%  bought ¥108.97 late Monday in New York, compared with ¥108.65 late Friday.

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