* GRAPH: Quotation of main currencies in 2020 https://tmsnrt.rs/2RBWI5E (Update with quotes and operations in New York)
By Karen Brettell
NEW YORK, Jun 23 (.) – The euro rose to one-week highs on Tuesday after positive economic data was released in Europe, while other currencies considered to be more risky also advanced after US authorities confirmed the pact commercial between Washington and Beijing was intact.
* The euro was strengthened by data showing that the crisis in the euro zone economy eased this month. The preliminary reading of the IHS Markit Composite PMI for the euro area rebounded to 47.5 in June from 31.9 in May, approaching the threshold of 50 that separates growth from contraction.
* « Most importantly, the PMI data for the euro zone exceeded expectations, » said Vassili Serebriakov, currency strategist at UBS in New York. He added that the report encouraged the idea that « the economy is rebounding a little bit faster than the markets expected. »
* Economic data in the United States was also more promising on Tuesday. IHS Markit also said its preliminary composite index, which tracks the manufacturing and service sectors in the country, rose to 46.8 last month from the level of 37 in May.
* Investors are evaluating economic data above expectations against the backdrop of increases in coronavirus cases in various areas of the world.
* The euro was up 0.67% on the day at $ 1.1333, after previously hitting a high of $ 1.1337, its highest level since June 16.
* The US currency rose overnight on hedge purchases after White House adviser Peter Navarro said the trade pact with China was « over. » The claims created confusion at first, but authorities in Washington later indicated that the pact was still in place.
* Later, the greenback changed trend. The dollar index, which measures the performance of the currency against a basket of currencies, was down 0.44% to 96,464 units at 1511 GMT.
* Against the Japanese currency, the dollar was trading at 106.24 yen, its weakest level since May 8.
(Report by Olga Cotaga. Edited in Spanish by Ricardo Figueroa and Marion Giraldo)