Euro spikes around 2% against US dollar

EUR/USD pair has broken above 1.1000 mark and currently trades at 1.1107, up around 2% on the day and hitting six month high. Euro stayed well supported as the US dollar was hurt amid worries over near term US economic outlook amid the ongoing announcements of tariff on trading partners. Economic data was supportive for Euro. The euro zone economy saw modest growth for a third month in March as the bloc's manufacturing industry showed signs of recovery and its dominant services industry expanded at a slightly faster pace than in February, a survey showed. HCOB's final composite Purchasing Managers' Index for the bloc, compiled by S&P Global, rose to 50.9 from 50.2. This was better than the preliminary estimate for 50.4.

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