Euro slips, stocks soften after PMI data

December 1, 2017

Frankfurt (Dec 1)  The euro and euro zone stocks continued to slide on Friday as euro zone factories posted their busiest month in over 17 years in November.

The single currency eased slightly from the day's highs of $1.1940 to trade at $1.1920. It was still up 0.2 percent on the day.

One trader at a Japanese bank said some large sell-orders in euro/yen cascaded into euro/dollar pushing the single currency off the highs.

Euro zone shares , which started to accelerate losses about half an hour before the release of the data, briefly touched a session low before stabilizing down about 0.8 percent.

Euro zone factories had their busiest month for over 17 years in November in a broad based acceleration, a purchasing managers' index showed, despite their hiking prices at the fastest rate in more than six years.


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