Economic activity in the US services sector accelerated in December, with the ISM Services PMI rising to 54.1 from 52.1 in November. This reading was higher than the market expectation of 53.3.
Other details from the report showed that the Prices Paid Index, a component of inflation, rose to 64.4 from 58.2, while the Employment Index fell to 51.4 from 51.5.
Market reaction
The US dollar strengthened against other major currencies in an immediate reaction. At the time of writing, the USD Index was up 0.2% on the day at 108.52.
Source: FXStreet
