The US dollar edged higher against the major currencies of Europe in early deals on Tuesday following the release of a weaker-than predicted German manufacturing report. German private sector contracted at the fastest pace in six months in April, ending a four-month period of expansion, preliminary results of a survey by Markit Economics showed today.
The flash composite output index, that gauges activity in both manufacturing and services, fell to 48.8 in April from 50.6 in March. The manufacturing purchasing managers' index fell to a four-month low of 47.9 from 49 in March, suggesting further worsening of operating conditions across the factory sector. The manufacturing output index fell to a four-month low of 47.9 from 50 in March.
The dollar strengthened against the major currencies of Europe following the German data. The greenback rose to 0.9392 against the Swiss franc, its highest level since April 5. The dollar also climbed to a fresh 2-week high of 1.2981 against the euro and a session's high of 1.5235 against the pound after the German data.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.