Flash: Risk tones boosted on upbeat PMI data across Europe – Investec

FXstreet.com (Barcelona) - 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.

A shift in risk appetite has seen appetite for the safe haven dollar decline. This is coupled with investors positioning themselves after risk higher PMIs. According to Lee McDarby, Corporate Treasury at Investec, “Risk tones have also been boosted after the positive official Chinese PMI release over the weekend and this appears to run through this move. You can see the impact of this as the euro is actually off against sterling, with the pair breaking through the 1.1700 level.”