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Currencies: Dollar strengthens after economic data

The U.S. dollar caught a bid and climbed higher on Tuesday, adding to the previous day’s gains, following some supportive economic data.

The ISM nonmanufacturing index for February came in at 59.7, beating estimates of 57.5 while also rising above the previous read.

The ICE U.S. Dollar Index DXY, +0.33% a measure of the currency against six major rivals, rose 0.2% to 96.896.

Elsewhere, the British pound GBPUSD, -0.3339% slipped on Tuesday, following reports that the U.K. government does not expect any breakthrough to be achieved at a meeting between British Attorney General Geoffrey Fox and European Union chief negotiator Michel Barnier.

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