Euro - European Markets The single currency pared gains against - TopicsExpress

Euro - European Markets The single currency pared gains against the Pound, as weaker-than-expected PMI readings in the Euro zone poured cold water on the “risk-on” sentiment in the former. The sluggish manufacturing and services PMI prints, albeit largely in the expansion territory, suggests that the ECB needs to do more to maintain a sustained level of economic recovery. However, dismal macro data across the Atlantic strengthened hopes of a delayed taper to the US Fed’s monthly bond buying plan, keeping the Euro around the 1.38 mark versus the US Dollar yesterday. Meanwhile, the Euro has continued to hover above the 1.38 mark against the US Dollar this morning despite data earlier today indicating that the Ifo business sentiment in Germany surprisingly ...

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