The dollar fell to its lowest in some 10 days in early trading in Europe amid hopes that the world economy may be bottoming out.
Those hopes rested largely on a Chinese business survey by Caixin/IHS Markit, which showed the strongest improvement in operating conditions for Chinese manufacturers since February 2017. Output and new orders both expanded at steeper rates, with the latter supported by a renewed increase in export business.
That contrasted sharply with a more gloomy reading from the state-compiled PMI earlier in the week, which showed continued weakness.
By 4:30 AM ET, the dollar index, which tracks the dollar against a basket of developed market currencies, was down 0.1% at 97.037, on course for a 0.6% drop on the week. Sterling was up 0.2% at $1.2966 while EUR/USD was up 0.1% at $1.1157.
Source : Investing.com