Forex News – Euro falls as German unemployment rises
March 28, 2013 11:13 am
Euro fell sharply against the sterling and yen after disappointing German jobs data. The single currency extended a decline after a report showed unemployment rose unexpectedly in March to a seasonally adjusted 2.94 million, marking a 13,000 increase.
The consensus forecast was for the number of jobless to fall by around 2,000.
The unemployment rate was unchanged, holding steady at 6.9 percent, where it has stood since October 2012.
The unadjusted jobless total remained above the 3 million mark for a third consecutive month.
Meanwhile, data earlier today showed sentiment among entrepreneurs fell from a 10-month high in March and manufacturing output unexpectedly dropped.
EURJPY fell to 119.73, a new one-month low, down from a session high of 120.77. EURGBP dropped to a low of 0.8414, the lowest since January 24.
Euro fell sharply against the sterling and yen after disappointing German jobs data. The single currency extended a decline after a report showed unemployment rose unexpectedly in March to a seasonally adjusted 2.94 million, marking a 13,000 increase.
The consensus forecast was for the number of jobless to fall by around 2,000.
The unemployment rate was unchanged, holding steady at 6.9 percent, where it has stood since October 2012.
The unadjusted jobless total remained above the 3 million mark for a third consecutive month.
Meanwhile, data earlier today showed sentiment among entrepreneurs fell from a 10-month high in March and manufacturing output unexpectedly dropped.
EURJPY fell to 119.73, a new one-month low, down from a session high of 120.77. EURGBP dropped to a low of 0.8414, the lowest since January 24.
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