Euro Edges Lower After Weak German PMI Data

The euro softened against the dollar on Tuesday after the release of Germany's HCOB Purchasing Managers Index (PMI) data. EUR/USD had been holding steady near 1.1430 following modest losses from the previous session, but the pair gave back its intraday gains as the PMI figures crossed the wires.

No specific PMI readings were disclosed in the initial report, but the data was sufficient to reverse the euro's early uptick. The single currency now faces renewed downside pressure, with traders assessing the implications for the European Central Bank's policy path. Immediate support is seen just below the 1.1400 handle.