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

July 24 (Bloomberg) -- 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

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