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The euro and pound reversed earlier losses versus the US dollar to close slightly changed Tuesday, as investors stayed cautious of purchasing the greenback given its incapacity to reflect a sustainable surge.
The ICE dollar index, gauging the US currency versus a basket of its counterparts, ended the day down slightly at 80.176 from Monday’s 80.227.
The sterling concluded at $1.7132 Tuesday, compared with Monday’s $1.7134.
The pound tumbled earlier following manufacturing output dropped 1.3% in May, said the Office of National Statistics. This logged the first plunge since November last year and the largest dive since January 2013.
Weaker than anticipated trade figures from Germany added to evidence of deceleration in Europe’s biggest economy, causing the euro to shortly slip. It closed the day at $1.3612, up from Monday’s $1.3607.
