German services sector drives growth as recovery persists- PMI reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
The Euro to US Dollar exchange rate dipped today, with the pairing currently fluctuating around $1.20.
The Euro continued to fall against a stronger USD today as the European Union’s (EU) relatively slow Covid-19 vaccine rollout has caused concern for the Eurozone economy.
In Eurozone economic data, today saw the release of Germany’s Manufacturing PMI for February. The figure beat forecasts and rose to 60.7.
Phil Smith, the Associate Economics Director at IHS Markit, commented on the data:
‘German manufacturing saw strong growth in February on the back of an increasingly positive trend in export orders. Capital goods producers noted a particularly strong performance, in a sign of increasing investment spending.’
GBP/EUR Outlook: Pound to Euro Exchange Rate Gains as UK PMI Impresses currencynews.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from currencynews.co.uk Daily Mail and Mail on Sunday newspapers.