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Euro Slips as Big Week Starts Slowly
The US dollar is narrowly mixed to start the new week. Both Tokyo and London markets are closed today making for somewhat lighter turnover. The dollar has been confined to about a quarter of a yen above JPY120.00. It is the euro that stands out. It has lost almost 0.5%, has dragged the Swiss franc with it. Recall at the end of last week, the euro was fairly resilient to the US dollar's recovery. There is a bit of catch-up going on as European dealers returned from their May Day holiday. The euro area manufacturing PMI was in line with expectations and edged above the flash 51.9 to 52.0. In March,it stood at 52.2. ... (full story)