Dollar, pound get support from economic data recovery ‎

US dollar and British pound found support today, Wednesday, after a sudden rebound in corporate activity in the United States and Britain raised the possibility that the central banks in both countries would continue to raise interest rates.

According to “Reuters”, the euro compensated for some of the losses it recorded in the last session, even after the purchasing managers’ index in the euro zone rose to its highest level in nine months at 52.3 in February, supported by surprisingly strong growth in the services sector.

Data released on Tuesday showed business activity in the United States unexpectedly rebounded in February, hitting an eight-month high and crossing the 50 mark separating growth from contraction for the first time since July.

The dollar rose broadly, while the sterling reached its latest transaction at $ 1.21015, retaining most of its gains made on Tuesday, which amounted to 0.6 percent.

The euro rose 0.05 percent to $1.0652, after falling 0.36 percent in the previous session.

“I think the euro is still in a rather difficult position given the general feeling that the ECB still needs to do more, which is somewhat affecting their growth outlook,” said Rodrigo Cattrell, Senior Analyst FX Strategies at National Australia Bank.”

The New Zealand dollar rose in its latest transactions, 0.1 percent, to $ 0.62195, after climbing to the highest level during the session at $ 0.6248 earlier, after the New Zealand central bank raised interest rates.

The Australian dollar fell 0.31 percent to $ 0.6835

Against the Japanese yen, the dollar recorded a slight decline to 134.91 yen, after hitting a two-month high of 135.23 yen in the previous session.

The dollar index reached 104.15, after it rose 0.3 percent on Tuesday.