The euro rises against the dollar, testing multi-month peaks as traders await key PMI releases for further direction.
The EUR/USD pair regained ground in Asian trading Friday, nearing its highest level since May 14. Dip-buyers stepped in, pushing the pair closer to the 1.1700 threshold ahead of upcoming PMI data.
The euro has strengthened against a weaker dollar, with bulls eyeing a break above 1.1700. The previous session saw the pair reach its highest point in over two months, reflecting growing optimism about eurozone economic performance.
Market focus now shifts to upcoming Purchasing Managers’ Index reports, which could provide fresh impetus for the currency pair. Traders remain cautious as they assess whether the euro can sustain its upward momentum.