Euro depressed Wait European production data
Forex February 24th, 2010
euro traded near its lowest level in 2 months for the U.S. dollar ahead of a report on the industrial sector, production is expected to fall.
The yen weakened against 13 of the 16 currencies after the quarterly Tankan index of the Bank of Japan to increase in numbers since most economic kecik out reseri.
Australian dollar and New Zealand is predicted to weaken for a second day due to speculation the Federal Reserve raised its benchmark interest rate next year.
“The movement of the euro depends on the economic data coming out this week. Even so, the euro remains captive to the risk of falls,” said Toshiya Yamauchi, manager of foreign exchange trading Ueda Harlow Ltd. in Tokyo.
The euro was at U.S. $ 1.4622 at 8:58 a.m. in Tokyo, rose from U.S. $ 1.4615 on December 11 when touching U.S. $ 1.4586, the weakest level since October 5. The dollar traded at 89.27 yen from 89.10. Euro bought at 130.54 yen from 130.24.
Australia’s currency traded at U.S. $ 0.9105 weakening of the U.S. $ 0.9127 cents and New Zealand dollar was at U.S. $ 0.7242.
The survey showed production in 16 countries that use the euro fell 0.7% in October, turning from rising 0.3% last month. EU statistics office in Luxembourg will launch the data today.
