Gracing the markets of the European session was the publication of mixed European and UK Zone manufacturing and services PMI data in February.
The good news for Europe is that business activity jumped to a 9-month high this month helped by better performance in the services sector.
This is shown in the performance of the two largest economies in the European Zone, France and Germany which recorded growth for the first time since October and June.
Even so, the manufacturing sector remained in contraction for the eighth consecutive month, indicating that manufacturing activity continued to slow in February.
This left the euro unable to react to gains in the stronger services sector, seeing it remain trading bleakly around lows.
In contrast to the UK, both the manufacturing and services sectors unexpectedly showed better-than-expected readings.
Services activity recorded significant growth by jumping to an eight-month high, supported by a strong increase in business activity.
The manufacturing sector remained in contraction but showed an improvement compared to the previous month, recording the highest reading in seven months.
As a result, the pound currency jumped higher following the data with the price rocketing by around 0.5% compared to the US dollar.
