December 1, 2017 / 9:37 AM / a year ago

Euro slips, stocks soften after PMI data

LONDON (Reuters) - The euro and euro zone stocks continued to slide on Friday as euro zone factories posted their busiest month in over 17 years in November.

The single currency EUR=EBS eased slightly from the day's highs of $1.1940 to trade at $1.1920. It was still up 0.2 percent on the day.

One trader at a Japanese bank said some large sell-orders in euro/yen cascaded into euro/dollar pushing the single currency off the highs.

Euro zone shares .STOXXE, which started to accelerate losses about half an hour before the release of the data, briefly touched a session low before stabilizing down about 0.8 percent.

Euro zone factories had their busiest month for over 17 years in November in a broad based acceleration, a purchasing managers’ index showed, despite their hiking prices at the fastest rate in more than six years.

Reporting by the London Markets Team; Editing by Georgina Prodhan

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