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Greenback Shrugs Off Negativity on Encouraging ISM Data
The US Index turned positive closing 0.15% up on Tuesday.
Even though the index touched its lowest level in more than two years, upbeat ISM data helped the greenback gather strength.
Economic activity in the US manufacturing sector in August expanded to its strongest pace since January 2019.
Eurozone Under Pressure As Deflation Stings
The euro could not maintain its momentum to 1.20 as it closed 0.20% lower yesterday.
This comes as the eurozone announced its slide into deflation for the first time in four years. Consumer price inflation was down in August on the back of a rise from the previous month.
In addition, Greece became a cause for concern with certain countries as infection rates spiked.
Is a second wave of the pandemic just a matter of time across the eurozone?
Pound Remains Bullish on PMI Data
Despite the positive dollar data, the pound managed to end yesterday’s session 0.11% higher.
The UK received its own positive...
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