Euro off two week high against US dollar

Euro is witnessing some moderation after recent spurt as lack of top tier economic cues led to some correction. Euro saw sharp gains this week against the US dollar as a recovery from two year low extended. EUR/USD pair currently trades at 1.0425, down 0.20% on the day after hitting around two week high in last session. Eurozone flash Manufacturing PMI will be out tomorrow. Meanwhile, there has been some recovery in the US dollar index as it holds above 108 mark following recent losses. Investors are still trying to assess the impact of Donald Trump presidency on broad trends in global trade and US economy.

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