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Dollar Rises vs Euro as European PMI Data Fails to Impress


Friday, 24 January 2020 23:32 WIB

DOLLAR EuroEuroDolar


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The dollar rose to a near eight-week high against the euro on Friday as lukewarm European PMI data added to the broader market conviction that European central bank policymakers will maintain a loose monetary policy for the near future.

Euro zone business activity remained lackluster with the IHS Markit's Euro Zone Composite Flash Purchasing Managers' Index (PMI), seen as a good gauge of economic health, holding at 50.9 in January but missing the median prediction in a Reuters poll for 51.2.

That followed an earlier PMI from Germany, Europe's largest economy, which showed the private sector gained momentum.

The euro was 0.21% lower against the greenback at $1.1029.

Sourec : Reuters


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