Euro Drops After Weak Business Activity Data, Central Banks in Focus

A woman counts Japanese 10,000 yen notes in Tokyo, in this Feb. 28, 2013 picture illustration. Shohei Miyano/Reuters

SYDNEY/LONDON—The euro slid on Monday after activity data in key economies came in much softer than expected, giving markets a jolt at the start of a week packed with central bank meetings at which investors expect rate hikes in Europe and the United States.

The European common currency fell 0.4 percent to $1.1083, skidding after a quiet Asian session on PMI data that showed eurozone business activity shrank much more than expected in July.