Euro Rallies Against USD as Softer US Data Emerges

The Euro strengthened against the US Dollar on Thursday morning in Asia, reaching 1.1555 as US economic data softened.

The US private sector added only 44,000 jobs in July, below market expectations of 70,000, according to ADP. This figure is also lower than the 98,000 new jobs created in June.

Meanwhile, the Services Purchasing Managers Index (PMI) improved marginally to 54.1 in July from 54.0 in the previous month, but still fell short of expectations at 54.5.