European Session – Euro struggles at $1.12 on firmer dollar after Fed speakers boost rate hike expectations
Posted on May 23, 2016 at 2:49 pm GMTThe euro underperformed today and fell below the key $1.12 level as disappointing Eurozone PMI data and a broadly stronger greenback weighed on the single currency. The euro dropped to as low as $1.1186 after having reached an early European session high of $1.1238. The flash version of Eurozone manufacturing and services PMI missed forecasts for May and raised concerns about the health of the region’s economy. The composite PMI registered at a 16-month low of 52.9 versus a prior [..]