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EUR/USD soars as ISM manufacturing data disappoints

FXstreet.com (Córdoba) - The euro rose over 60 pips in a matter of minutes, reversing recent losses versus the greenback after data showed US manufacturing sector contracted in May, while construction spending grew less than expected in April.

Sour data weighed on the US currency as it undermines expectations that the Federal Reserve could start withdrawing stimulus measures while economic data worsens.

EUR/USD has regained the 1.3000 mark and it is currently trading at the 1.3020 zone, 0.2% above its opening price with immediate resistance seen at 1.3043 (daily high).

GBP/USD higher on worse than expected ISM

GBP/USD has risen to meet the 1.5290 level on a continuation fo the bull run on weaker than expected US ISM number 49 vrs 50.7 previous and lower against a market consensus of 50.5 as well.
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Flash: Risk tones boosted on upbeat PMI data across Europe – Investec

The EUR/USD is the main focus of market activity this morning as risk sentiment and the various upcoming European Purchasing Managers’ Index releases have driven the single currency back above 1.3000 against the greenback.
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