NEW YORK (AP) -- The dollar is falling against the euro after manufacturing in Philadelphia and New York fell this month.

The possibility of more stimulus for Japan's economy pushed the yen to a nearly seven-month low against the dollar.

The euro rose to $1.2778 in afternoon trading from $1.2745 late Wednesday.

The Federal Reserve Bank of Philadelphia says its manufacturing index was at -10.7, a five-month low. That's down from a reading of 5.7 in October. The Federal Reserve Bank of New York says its index was at -5.2, slightly better than October. Negative readings signal contraction.

The dollar jumped to 81.45 yen, its highest point since April 25. A prime minister candidate in Japan wants the Bank of Japan to cut interest rates to zero or below.

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