Euro hits day's high vs dollar after strong German data
LONDON, July 7 |
LONDON, July 7 (Reuters) - The euro rose on Tuesday, hitting the day's high against the dollar and sterling after stronger-than-expected German manufacturing figures suggested that the country's economy is continuing to improve.
German manufacturing orders jumped 4.4 percent on the month in May, exceeding forecasts for a 0.5 percent reading and improving from a flat reading in April [ID:nBAF001723].
The euro EUR= rose after the announcement, hitting the day's high against the dollar at $1.3997, according to Reuters data. By 1007 GMT, the pair was at $1.3985, little changed from before the data.
The euro also rose to a session high against sterling, which came under pressure following earlier weaker-than-expected UK industrial production data. The pair climbed to 86.41 pence EURGBP=R, according to Reuters data.
(Reporting by Naomi Tajitsu)
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