Euro Drops with German Factory Orders, Attempts to Recover

The euro declined today after German factory orders demonstrated the biggest decline in more than two years. Later, the currency attempted to rebound and is now trading near the opening level against most of its peers.
German factory orders dropped 4.2% in February from the previous month following the 2.1% decline registered in January (revised positively from 2.6%). That is instead of rising by 0.3% as analysts had predicted. It was the biggest decline since January 2017.
EUR/USD traded near opening at 1.1232 as of 9:31 GMT today after rallying to the daily high of 1.1247 earlier. EUR/GBP traded at about 0.8541 after opening at 0.8537 and falling to the daily low of 0.8518.

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