© Reuters. An illustrative photo showing US dollar and euro coins, taken on July 17, 2022. Photo: Dado Rovic/Reuters.
NEW YORK (Reuters) – It fell against Tuesday after data showed that euro zone business activity returned to modest growth in January, while US business activity contracted for the seventh month in a row.
Although US business activity contracted in January, contraction in the manufacturing and service sectors slowed for the first time since September, and business confidence picked up as the new year began.
The euro rose 0.09 percent to $1.0881, close to a nine-month high of $1.0927 it touched on Monday.
The dollar rose, approaching its highest level in a week against the yen, before giving up its gains to trade down 0.44 percent at 130.095 yen.
The pound was one of the worst performing major currencies against the dollar, falling 0.34 percent on Tuesday to $1.2334, after a survey showed British private sector activity fell in January at the fastest pace in two years.
(Prepared by Mahmoud Abdel-Gawad for the Arabic Bulletin)
