Mubasher: Eurozone manufacturing activity remained in contraction territory during June, with operating conditions deteriorating for the fifth consecutive month, data showed on Monday.

The final IHS Markit Eurozone purchasing managers’ index (PMI) ticked down to 47.6 last June, from 47.7 in May and the initial reading of 47.8, according to a report from IHS Markit.

While the June reading remained lower than the neutral 50-mark, it reflected that the Eurozone manufacturing sector continued to shrink at one of the steepest rates recorded for more than six years.

By 8:22 am GMT, the EUR/USD pair fell by 0.40% to $1.1328.