The Euro US Dollar (EUR/USD) exchange rate is trading lower on Thursday for a third consecutive day.
ECB concerns over Euro strength, after the common currency struck $1.20 earlier in the week, are dragging on demand for the Euro. Activity in the Spanish service sector shrank by more than expected in August as travel restrictions and a spike in covid numbers ravaged the tourist season. Service sector data for the Eurozone as a whole will be watched carefully.
US Dollar is advancing across the board, despite weaker ADP private payroll data yesterday. Attention will now turn to US ISM non-manufacturing figures later today.
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