Euro sinks to one-month low after PMIs lay bare coronavirus economic hit [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
Euro sinks to one-month low after PMIs lay bare coronavirus economic hit LONDON (Reuters) - The euro fell to its lowest in a month on Thursday after data showed economic activity in the euro zone virtually halted by government-imposed lockdowns to stop the coronavirus pandemic. The single currency dropped 0.6% against the dollar EUR=EBS to its lowest since March 24, after IHS Markit's Flash Composite Purchasing Managers' Index (PMI) sank to by far its lowest reading since the survey began in 1998. The euro was last at $1.07795, with investors awaiting the result of a meeting of European Union leaders on the bloc’s response to the economic turmoil caused by the pandemic. The summit will bring a move towards joint financing to help the bloc recover from a forecast deep recession caused by the pandemic by asking the European Commission to propose a fund big enough to target the most affected sectors and regions. But uncertainty remains over how far EU governments will be prepared to shar
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