Euro Soars Above 1.1550 as Soft US Data Takes Hold

The EUR/USD pair has strengthened above 1.1550 as softer US data and cooling tensions in the Middle East boost the Euro.

Data released by Automatic Data Processing (ADP) showed that employment in the US private sector increased by 44K in July, below the market consensus of 70K.

The Services Purchasing Managers Index (PMI) improved to 54.1 in July from 54.0 in the previous month, but this reading came in short of expectations at 54.5.