Euro deepens losses despite upbeat data

Euro deepened its losses on Tuesday to a four-session low amid mounting negative pressures on the common currency despite earlier upbeat data from the Eurozone that failed to underpin it.
 
EUR/USD last traded at 1.0534, down from the opening of 1.0609, with a session-high at 1.0614, and a low at 1.0526.
 
Earlier data form the Eurozone showed the manufacturing PMI for February up to 55.5 from 55.2, beating expectations of 55, while the services PMI jumped to 55.6 from 53.7 in January.
 
Strong manufacturing and services data from the Eurozone failed to prop up the common currency due to dollar's strength against a basket of currencies, weighing on the euro and other currencies.
 
On the other hand, concerns mount over a possible French referendum on exiting the European Union like how it happened in Britain, in case Far Right Candidate Marie LE Pen won the presidential elections, while odds rise for another Fed rate hike in the bank's March meeting, hurting the euro further.