Euro extends losses, hits 5-mth low vs dollar

The euro EUR= fell as low as $1.4058 according to Reuters data, its weakest since mid-August.

Losses accelerated after a flash reading of the euro zone purchasing manager's index showed a composite reading of 53.6 in January. This compared with expectations for a rise to 54.5, and suggested that the pace of the region's economic recovery may be slowing. >>