Dollar Rallies as Weak Economic Data Sinks Euro

Dollar Rallies as Weak Economic Data Sinks Euro
Representations of cryptocurrency Bitcoin and U.S. dollar are seen in this illustration, on Aug. 10, 2022. Dado Ruvic/Reuters
Reuters
Updated:
0:00

LONDON—The dollar rose on Tuesday after briefly falling to a one-month low on the back of a drop in U.S. bond yields, as weak economic data sent the euro sliding.

Survey data showed that eurozone business activity took a surprise turn for the worse this month in a broad-based downturn across the region, suggesting the bloc may slip into recession.