Eurozone Flash PMI data exceeded forecasts, supporting the EUR near three-month highs against a weaker USD.
The Euro traded just below 1.1700 against the US Dollar on Friday, extending its weekly gain to over 1% after Eurozone Flash PMI figures surpassed expectations. The currency remained close to its three-month peak of 1.1710, reflecting improved economic sentiment in the region.
Earlier data showed stronger-than-anticipated business activity in the Eurozone, contrasting with a softer USD amid mixed US economic signals. The EUR had previously struggled below 1.1600 but regained momentum following the PMI release.
Markets are now assessing whether the Eurozone’s resilience will sustain the EUR’s upward trajectory against the greenback in the near term.