After economic reports from Europe were published, investors now turned their attention to the release of US manufacturing and services PMI data in the New York session.
Investors remained tight-lipped on the US dollar trading in the European session, which saw the currency king near 20-year highs against most other major currencies.
Expected new shutdowns on the Nord Stream 1 gas pipeline to Europe have raised fears of a recession, exacerbated by lackluster readings in services and manufacturing PMI data in the European Zone in August.
This in turn added pressure for the euro to continue to weaken at the latest 20-year lows by trading below parity against the greenback.
In addition, investors were also presented with similar data readings from the UK where the manufacturing sector was reported to have fallen below contraction and service activity was positive in August.
Even so, the pound currency failed to react significantly to the release of the data, instead remaining traded under pressure at a more than two-year low against the stronger US dollar.
Examining the development of commodity currencies, the Aussie and New Zealand dollars traded little changed at the weakest level in a month against the US dollar.
Meanwhile, the Canadian dollar failed to capitalize on the strengthening of world crude oil prices driven by Saudi Arabia, showing it remained traded around the lowest level.
