Midday trade in New York: dollar takes a hit after weak US data

The dollar slid on Thursday, hurt by a round of weak data suggesting the US economic recovery could be stalling, although Greece's uncertain debt situation should limit the greenback's losses against the euro. A slowdown in manufacturing growth in the US Mid-Atlantic region and an unexpected dip in existing home sales in April triggered the latest round of dollar selling and added to growing evidence that US economic prospects were far from upbeat.
In midday, trading, the ICE Futures' dollar index was down 0.1 percent at 75.391. In midday New York trading, the euro was up 0.1 percent at $1.4260, comfortably above a seven-week low of $1.4048 hit on Monday, with traders citing sovereign bids around $1.4200. Support was also seen around $1.4246, the 200-hour moving average, and the 55-day moving average at $1.4295. The dollar was up 0.1 percent against the yen at 81.86 after hitting a three-week high at 82.179. Thursday's weak US data had an impact on this currency pair.