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On Tuesday, the common currency slid versus the greenback because data from Germany suggests business leaders in the EU’s number one economy have become less optimistic as for the future.
The currency pair EUR/USD hit 1.1799, tumbling from a maximum of 1.1819 hit earlier.
The Munich-based Ifo economic institute told that in November its business climate index, built around a monthly poll of some 7,000 companies, headed south to 117.2 from an upwardly updated outcome of 117.6, which turned to be the highest level on record.
The December result was lower than a Reuters consensus estimate for 117.5.
Political uncertainty in Germany has also put pressure on the common currency. On Friday, Germany’s Social Democrats decided to start negotiations in forming another government with Angela Merkel’s center-right party for the purpose of ending a political deadlock.
Meanwhile the common currency rallied versus the British pound, with EUR/GBP adding 0.25% trading at 0.8823.
For the last week, crypto assets jumped, backed by a 25% leap in Bitcoin Cash, in contrast with a backdrop of further indications of sluggishness in fiat currencies, including the evergreen buck…
On Monday, the evergreen buck slumped to a two-and-a-half week minimum because market participants pulled back ahead of the Fed’s meeting a bit later in the week…
On Friday, key crypto assets showed mixed performance in Asia, with mild movements because the trading week drew to its end…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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