Euro has a buoyant Tuesday

It was a good Tuesday for the euro as it strengthened against both the US dollar and sterling.

The market peaked early in the morning and quickly moved against euro but overall it remained ahead from the early hours of this morning. Unemployment data from Europe was reported at 10.9%, better than the forecast of 11.1%, while Purchasing Managers’ Index (PMI) data fell slightly however from last month’s figure, from 52.4 to 52.3. German factory activity, however, hit a 16-month high in August, with a Markit PMI registering a rise from 51.8 in July to 53.3 last month.