Euro Stays Lower Against Yen, Dollar After Euro-Area PMI Data

The euro stayed lower against the yen and the dollar after a report showed the region’s services and manufacturing output contracted for a sixth straight month in July.

The 17-nation shared currency fell 0.4 percent to 94.62 yen as of 9:06 a.m. London time. It was 0.1 percent lower at $1.2109.

A composite index based on a survey of purchasing managers in both industries in the 17-nation euro area was unchanged at 46.4, the same level as in June, London-based Markit Economics said today in an initial estimate. That’s in line with the median of 17 estimates in a Bloomberg News survey of economists. A reading below 50 indicates contraction.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.