Session Recap: USD mixed, GBP underpinned by data

FXstreet.com (Córdoba) - The dollar traded mixed across the board during the European session following the release of services PMI for the UK and the Eurozone.

The pound strengthened after the UK services PMI reached a 6-year high of 60.2 in July with GBP/USD rising to a 1-week high of 1.5377. European services PMIs were generally close to expectations and the euro showed shyer reaction, with EUR/USD hitting a high of 1.3300 before sliding to a low of 1.3255.

Elsewhere, the USD/JPY retreated back to sub 98.50 after nearly breaking above 100 on Friday. The AUD and the CAD were little changed while the NZD/USD managed to trim some losses, having slumped to 0.7735 after China temporarily suspended some dairy product imports due to a bacteria scare.

Main Headlines in Europe:

China's ban on NZ dairy could have severe consequences for the Kiwi - UBS

What does the EUR/USD have to offer? – Commerzbank and UBS

Germany: PMI Services falls rises less than expected in July

EMU: PMI Services contraction slows down to 49.8 in July

UK: Markit Services PMI soars to 60.2 in July

EMU: Annual Retail Sales drop 0.9% in June