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Euro takes advantage of its struggling partners

By Callum Holmes July 6th, 2016

The euro had an excellent day on Tuesday, experiencing the the best of both worlds with the US dollar and sterling struggling – and the single currency took full advantage. Improved Eurozone retail sales data, along with better than expected euro purchasing managers’ index (PMI) data gave key support to the euro; retail sales improving from 0% up to 0.4% and PMI remained at 53.1 despite being forecast to fall by 0.3. Against sterling, the euro managed to reach fresh two and a half year highs.

This morning German manufacturing orders are released, and are expected to push back from a disappointing figure last month of -2% to 1%. Apart from this, the euro is likely to have a quieter day.

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