September 1, 2011 / 8:07 AM / in 6 years

Euro falls broadly after weak German PMI

LONDON, Sept 1 (Reuters) - The euro fell across the board on Thursday after a weaker-than-expected reading of German manufacturing highlighted increasing sluggishness in the euro zone’s largest economy.

Markit’s Purchasing Managers’ Index for German fell for the fourth month in a row to 50.9 for August -- the weakest level since September 2009 -- from 52.0 in July and well below an initial estimate also of 52.0.

The German figures followed figures showing manufacturing contractions in France, Italy and Spain, while the euro zone overall also posted a contraction, its first since September 2009.

The euro fell to a session low of $1.4290 according to electronic trading platform EBS, dipping from $1.4305 to trade half a percent lower on the day. Against the Swiss franc , it fell around 0.8 percent to the day’s low of 1.1480 francs

Reporting by London Forex Team

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