Euro settles near six-month nadir against dollar

Euro tilted lower in American trade to near November 21 lows against the dollar, following earlier data from the euro zone and the US. 

As of 03:21 GMT, EUR/USD inched down 0.11% to 1.1778 from the opening of 1.1791, with an intraday low at 1.1757, and a high at 1.1830. 

Earlier from Germany, the Deutsche Bundesbank released its monthly economic report, while the German economy minister called for more communication between the US and EU in order to reach a trade deal before tariffs are imposed on European steel and aluminum. 

European Commissioner for Trade Cecilia Malmström has called on the US to remove their planned tariffs on steel and aluminum imports, asserting the importance of respecting the current trade flows between the two sides in taking any tariff decision. 

The European Central Bank is slated to release the minutes of its April 26 meeting on Thursday, at which policymakers voted to hold the minimum bid rate at zero and the deposit rate at minus 0.4%, while maintaining the monetary easing program unchanged at 30 billion euros a month until September.

From the US, the Richmond Manufacturing Index rose to 16 in May from 3 in April, beating expectations of 9. 

Now markets await the Federal Open Market Committee's minutes for the May meeting, at which policymakers voted to stay overnight interest rates unchanged at below 1.75%.