Euro hits 6-week high against dollar
Afp, London
The euro spiked to a six-week high against the dollar on Monday following the release of positive economic data from the eurozone, dealers said. The euro struck 1.3580 in early European trade -- the highest point since May 16. It later stood at 1.3578 dollars, compared with 1.3540 dollars late on Friday in New York. The dollar fell to 122.56 yen, from 123.15 yen late Friday. Manufacturing activity in the 13 nations that share the euro firmed more than expected in June after slumping in May, according to a widely watched survey on Monday. The eurozone's seasonally adjusted purchasing managers' index (PMI), compiled by NTC Research, rose in June to 55.6 points from 55.0 in May, beating a provisional estimate and economists' forecasts for 55.4 points.
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