Forex Flash: Euro gains poised to test 1.37 – BBH (Barcelona) - Brown brothers Harriman analysts note that the Euro is posting strong gains which started in Asia before the bullish economic data today and now looks poised to challenge the 1.37 area.

They write, “The PMI data supports the idea that the worst of the recent economic downturn is over. The final manufacturing PMI was reported at 47.9, which compares with the 47.5 flash reading and 46.1 reading in Dec.  This is the highest in nearly a year.”