November 22, 2024 – Written by Tim Boyer
STORY LINK EUR to USD Exchange Rate Drops to 1.035 as EU PMIs Miss
PMIs in the EU dropped further, with Services joining Manufacturing in contraction territory.
The euro dropped sharply. EURUSD was down –1.35% and tested 1.035.
One hope for the euro is that PMIs are not yet reflected in hard data such as GDP.
The US dollar has had a remarkable run since late September when it was hovering near the lows of the year and the lows of 2023. An 8% rally in under two months has taken it to new…
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