BLBG:Euro Stays Lower Against Dollar as Manufacturing, Services Drop
The euro stayed weaker against the dollar and the yen after reports showed that manufacturing and serices industries in the region contracted in April.
The common currency declined 0.6 percent to $1.2991 at 9:09 a.m. London time, and was 1.1 percent weaker at 128.26 yen.
A composite index based on a survey of purchasing managers in both industries held at 46.5, London-based Markit Economics said today. That’s in line with the median of 26 economists’ forecasts in a Bloomberg News survey. A reading below 50 indicates contraction.
To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net
To contact the editor responsible for this story: Tim Farrand at tfarrand@bloomberg.net
