Euro Rebounds on Upbeat Data, A solid run of European data supported the euro on Monday. Early in the day, the currency took a hit from the buoyant dollar, which climbed close to an 11-year high against a number of major currencies after Beijing’s decision over the weekend to cut interest rates for the second time in less than four months, highlighting the gap in interest-rate policy between the U.S. and the rest of the world.
But the euro later recovered, climbing by 0.3% against the buck to $1.1230 after figures from data provider Markit showed that the eurozone purchasing manufacturer’s index was 51.0 for February, holding steady from an initial reading. The region’s jobless rate, meanwhile, fell to its lowest level since early 2012...Read More
But the euro later recovered, climbing by 0.3% against the buck to $1.1230 after figures from data provider Markit showed that the eurozone purchasing manufacturer’s index was 51.0 for February, holding steady from an initial reading. The region’s jobless rate, meanwhile, fell to its lowest level since early 2012...Read More
