© Reuters. The euro is close to $1.10 but falls after figures from the US economy
Frankfurt (Germany), April 21 (.).- The euro was close to $1.10 today but fell to $1.0950 after the publication of the expansion of the US manufacturing sector in April, which was stronger than expected.
The euro was trading around 3:00 p.m. GMT at $1.0960, compared with $1.0978 in the final hours of European currency market trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at $1.0978.
US service sector activity rose to 53.7 points in April (52.6 points in March), a 12-month high, according to S&P Global.
The Purchasing Managers’ Index for the US manufacturing sector improved to 50.4 points, from 49.2 points in March.
It is the first time in six months that the manufacturing sector activity index exceeds 50 points, a value that indicates an expansion of the industry.
These figures and risk aversion prompted purchases of the “green ticket”.
In addition, the purchasing managers’ index for the euro area manufacturing sector fell in April to 45.5 points from 47.3 points but the service sector activity index improved to 56.6 points, from 55 points. .
The single currency was exchanged in a fluctuation band between 1.0938 and 1.0991 dollars.
