he greenback edged higher against the euro on a combination of better than expected US economic reports and continued risk aversion flows. Crude oil slid by over 3.5% to around $56.50 per barrel, while US equities also dipped lower with the Dow Jones and S&P 500 both lower by more than 1%.

The reports released earlier in the session were largely better than expected with the NY Fed manufacturing in May improving to -4.55 from -14.65 in April and industrial production posting a 0.5% decline compared to a 1.5% fall in March. The University of Michigan consumer sentiment survey in May climbed to 67.9, up from 65.1 from April, while the expectations component edged higher to 69.0 from 63.1