LONDON, Dec 1: The dollar tumbled further on Friday after a key survey of US manufacturing activity showed a contraction in November, with the euro rising above $1.33 and the pound breaching the $1.98 level.

In late European trading, the euro changed hands for $1.3317 after hitting a fresh 20-month high earlier in the day, compared with $1.3241 in New York late on Thursday.

The dollar stood at 115.35 yen, from 115.77 yen late on Thursday.

The pound rose to $1.9792 from 1.9657 in New York, and hit a 14-year high in intraday trades.

In the United States, the Institute for Supply Management's index of manufacturing dropped to 49.50 from 51.2 in October, falling below the 50 mark to indicate contraction in the sector for the first time since April 2003.

The euro surged to fresh 20-month high of $1.3349 in the wake of the data, while the pound hit a new 14-year high of $1.9849.—AFP