The Euro (EUR) took out large stops under 1.25 to hit new 3 month lows before the china story took hold dragging the pair higher with US stocks. February PMI was revised slightly higher to 39.2 from 38.9.

Easy Forex Team said: Overall the EUR/USD traded with a low of 1.2459 and a high of 1.2663 before closing the day at 1.2640.