US dollar distanced from session lows versus the euro, as markets focused on upcoming manufacturing data from the United States, expected later today.
EUR/USD traded at psychological level, 1.3000-1.3007 during late European session, off session high at 1.3044, after better than projected PMI data was released and postponed expectations that more easing measures were on the way by the European Central Bank (ECB) later this week.
EUR/USD pair hit session high earlier today, after it became clear that Euro zones Manufacturing PMI showed improvement during May, reaching 48.3, from 47.8 a month ago.
Additional reports announced that manufacturing activity in Spain contracted at the slowest rate in two years during May, while manufacturing activity in France decreased at the slowest rate in over a year.
US dollar was being traded near three week low against the Japanese yen, with USD/JPY dipping to session low at 100.01 earlier today after Japanese shares fell and yen demand was boosted. Currently USD/JPY pair is being traded at 100.29.
US dollar retreated against the British pound also, with GBP/USD hitting session high at 1.5291, because of the optimistic Manufacturing CIPS indicator in United Kingdom, which reached 51.3 in May, advancing from a revised April reading of 50.2. Currently GBP/USD is being traded at 1.5253.
The dollar advanced versus the Swiss franc, with USD/CHF reaching 0.9579. In Switzerland, a report stated that the Schweizerischer Verband für Materialwirtschaft und Einkauf (SVME) PMI rose to 52.2 in May from 50.2 in April, above expectations for a value of 51.0.
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