Euro falls under dollar's pressure

Euro fell today against US dollar, which rose and pushed most of the major currencies after the announcement of a trade truce between the United States and China.

US President Donald Trump announced after meeting with his Chinese counterpart Xi Jinping the lifting of the ban on Huawei and a trade truce during which lengthy negotiations would be held between the two countries.

Trump pointed out that trade negotiations must see concessions from both sides to pave the way for a comprehensive trade agreement.

Whilst Trump has threatened to impose more tariffs against more imports of Chinese goods if Washington and Beijing do not reach a trade deal.

Economic data showed a slower growth in manufacturing activity in the euro area to 47.6 points last month, while unemployment fell to 7.5% from 7.6%.

In terms of trade, by 18:11 GMT, EUR/USD fell by 0.7% to 1.1289, with a high of 1.139 and a low of 1.1282.