The euro fell to a three-and-a-half week low and stood precariously near its wea...
LONDON - The euro fell to a three-and-a-half week low and stood precariously near its weakest since June 2017 on Tuesday, as investors seized on relatively strong data out of the United States to buy the dollar.
Kit Juckes, a strategist at Societe Generale, said that while there was little correlation between the gap in the Purchasing Managers Index surveys in the euro zone and the United States, signs of weakness would test the single currency as it fell towards the bottom of its recent trading range. The dollar index, which measures the U.S. currency against a basket of rival currencies, rose 0.3 percent to 97.430, a three-week high, helped by a rally in U.S. stocks on Monday and the more positive U.S. data.
She said the government’s budget due on Tuesday should provide some supportive measures. Combined with optimism over China, she said, that should help the Aussie to rebound.
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