Dollar lower on manufacturing, housing reports

NEW YORK—The dollar edged down against the euro and other currencies Monday as stronger-than-expected reports on manufacturing and housing eased concerns about the global economy's recovery, while markets look ahead to this week's slew of central bank meetings.

The manufacturing industry grew at the fastest pace in October since April 2006, according to the Institute for Supply Management. The ISM manufacturing index clocked in at 55.7, much better than the 53 economists had expected. It was the third month in a row the index came in above 50, which indicates growth.

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