(MENAFN– ecpulse)
The euro last traded at $1.33942, down 0.04 percent against the dollar after data showing the pace of business activity in the euro-area sank in July as growing tensions in Ukraine weighed on sentiment.
With inflationary pressure worsening and factory activity shrinking data will make grim reading for the European Central Bank ahead of its monetary policy meeting on 7 August.
Euro-area manufacturing sector’s growth stalled at 51.8 in July, according to the Purchasing Managers` Index (PMI) final reading. The flash reading was revised down from 51.9.
Germany’s manufacturing soared to 52.4 from 52.0, while French manufacturing widened contraction after recording 47.8 from a proceeding of 48.2.
Euro is currently trading at $1.33931, as of 12:49 GMT +3, after opening at $1.33893. The EURUSD pair so far hit an intraday high at $1.33953 and low at $1.33782.
Also, the pound slid against most major currencies to a seven-week low on Friday after the UK manufacturing PMI dropped more than expected.
Manufacturing PMI, decreased to 55.4 in July from 57.2 in June, but remained above the survey average of 51.5.
Pound fell for a fourth straight session Friday, trading at $1.68287 after starting the day at $1.68819. The GBPUSD pair so far hit intraday high at $1.68921 and low at $1.68284.
The U.S. dollar edged higher against a basket of major currencies in Europe on Friday to steady near its strongest monthly gain in over a year after U.S. labor market data fueled expectations for a more hawkish Federal Reserve.
The U.S. dollar index hit a fresh 10-1/2-month high of 81.573 after the data yesterday, but pared most of its gains on profit-taking ahead of today`s U.S. nonfarm payrolls data, which economists expect to show U.S. employers added 230,000 jobs in July.
Dollar traded higher at 81.56 after opening at 81.51, while hitting an intraday high at 81.60. The dollar was up against the Japanese yen at 102.940 yen, after setting high at 102.985 yen.
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