2014.10.0205:19:33UTC+00Euro still under pressure despite recuperation signs

The euro held onto pressure Wednesday despite recent signs the recuperation within the currency bloc was cooling.

Against the US dollar, the 18-nation currency declined 0.3% to $1.2584, near Tuesday’s two-year trough.

The eurozone manufacturing data expanded in September. In Germany, there was a sudden contraction.

"The apparent trigger for [Tuesday's] move is hardly the fuel for a sustainable advance: hopes that another weak inflation reading will prompt further attempts by the ECB to 'do something'," said Ian Williams, Economist and Strategist at Peel Hunt.

Meanwhile, the market will await ECB’s monthly policy meeting Thursday.