Euro Dips On German Data, Dollar Strengthens – 23 September, 2019

A deepening manufacturing recession in Germany cause the euro to dip after weak data readings. The currency dipped 0.2%, stabilizing around $1.0990. The dollar gained against the yen, rising to 107.58 yen, while the index last showed it gaining against a basket of major currencies to 98.621. The pound was near a one week low at $1.2431 ahead of a UK supreme court ruling over Prime Minister Boris Johnson’s actions following his suspension of parliament just ahead of the Brexit ruling. Both the Australian and New Zealand dollar were holding steady near three week lows, with the Aussie at $0.6772 and the kiwi at $0.6290. Lastly, the offshore yuan was slightly stronger at 7.1056.