Euro holds 3-day dive on geopolitical risks, before economic data
August 14, 2014 4:20 am
The euro held its three-day fall before data on economic growth in the region that is due today and on possibilities Russia’s conflict would affect growth in the region.
The currency was slightly changed at $1.3359 as of 12:23 p.m. in Tokyo after it dropped 0.4% yesterday in the last three sessions. The shared currency traded at ¥137.05 from 136.88, after it reached ¥135.73 on August 8, the lowest since November 21.
“Europe is at the epicenter of the geopolitical risks, so investors are avoiding European currencies. The economic data out of the euro area continues to be weak. The euro looks heavy amid concerns about growth prospects and expectations for additional ECB easing,” said Yuki Sakasai, Foreign-Exchange Strategist at Barclays Plc.
The material has been provided by InstaForex Company – www.instaforex.com
The euro held its three-day fall before data on economic growth in the region that is due today and on possibilities Russia’s conflict would affect growth in the region.
The currency was slightly changed at $1.3359 as of 12:23 p.m. in Tokyo after it dropped 0.4% yesterday in the last three sessions. The shared currency traded at ¥137.05 from 136.88, after it reached ¥135.73 on August 8, the lowest since November 21.
“Europe is at the epicenter of the geopolitical risks, so investors are avoiding European currencies. The economic data out of the euro area continues to be weak. The euro looks heavy amid concerns about growth prospects and expectations for additional ECB easing,” said Yuki Sakasai, Foreign-Exchange Strategist at Barclays Plc.
The material has been provided by InstaForex Company – www.instaforex.com
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