Euro up on improved French PMI data

London

THE euro jumped to one-week high following positive economic data on Tuesday and higher-risk currencies, including the Australian dollar, were boosted after US officials confirmed that the US-China trade deal is intact.

The euro bounced after data showed that a downturn in the euro zone economy eased again this month. The Flash Composite Purchasing Managers' Index (PMI), compiled by IHS Markit and seen as a good gauge of economic health, recovered to 47.5 from May's 31.9, moving closer to the 50 mark which separates growth from contraction. In April, it was a record low 13.6.