The greenback continued to display a gloomy performance at the start of Tuesday's trading session while the pound currency continued to strengthen higher.
The weakness of the US dollar continued following the US manufacturing PMI data ISM survey published in the New York session was recorded to have decreased to 50.9 in September from 52.8 the previous month.
This was the lowest expansion in manufacturing activity since the contraction recorded in 2020.
Additionally, the decline in the greenback also followed a lower decline in the US 10-year treasury yield.
Meanwhile, the pound continued to strengthen after UK Finance Minister Kwasi Kwarteng scrapped a 45% tax cut plan following criticism from various quarters.
In the meantime, the euro also rose following the decline of the US dollar although the increase recorded was limited following the revised reading of the European manufacturing PMI data which was less encouraging.
Separately, the Aussie dollar was the main focus of investors in the Asian session awaiting the Reserve Bank of Australia (RBA) policy meeting with an expected 50 basis point increase in interest rates.
The antipodean currency traded higher against the US dollar in line with the kiwi dollar which also awaits the Reserve Bank of New Zealand (RBNZ) policy meeting.
