The euro has been struggling over the past weeks. Forex trading investors are veering away from the risky currency as a flurry of bad economic data continues to fuel worries over the region’s recovery. On August 24th, the euro faced a near six-week low because of worse-than-expected data in both German and European Manufacturing PMI. German Manufacturing PMI sat at 58.2 instead of the 60.9 forecast. European Manufacturing PMI came out at 55.0, 1.3 lower than expected. The EUR/USD pair traded at a low of 1.2647 and a high of 1.2729.

The pound continues on its downward trend with the GBP/USD pair trading at a low of 1.5499 and a high of 1.5619. It almost hit a four-week low for the trading day. The dollar was able to gain against most of the majors as it got a major boost from risk aversion. Following the weak global economic data, investors to the Japanese yen, prompting its gains against major currencies. The USD/JPY traded between 85.09 and 85.64.