Economic Weakness Boosts Dollar, Yen
NEW YORK (BBH FX Strategy) -- The U.S. dollar is broadly firmer after weaker-than-expected data reports in China and the eurozone. The euro is erasing earlier gains and breaking below this week's previous lows around 1.313 after March's Purchasing Managers' Index composite disappointed expectations, even in Germany, with readings below the boom-bust level of 50.
Sterling is down after February retail sales also disappointed. The dollar is softer against the yen, with USD-JPY breaking below 83.0. Global stocks are mixed, with the MSCI Asia up 0.4%. Despite the softer data, policy action gave some investors hope that China will ease policy further.
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