Euro falls to four-month low on weak German data; dollar gains

Friday, 7 February 2020 16:15 WIB

DOLLARCurrency EuroSterling,


The euro fell to its lowest since October on Friday after German industrial output for December recorded its biggest decline in a decade and strong employment numbers in the United States encouraged investors to buy the dollar.

The dollar has gained in recent sessions from solid data and because of fragile risk sentiment, as investors gauge the economic ramifications from the coronavirus outbreak in China, where the death toll continues to climb.

The Australian dollar, often seen as a proxy for China, weakened 0.5% to $0.6699 after the Reserve Bank of Australia slashed growth forecasts in its quarterly economic outlook, blaming bushfires and the coronavirus.

The U.S. dollar traded at 109.9 yen on Friday, just below a two-week high reached earlier. For the week, the dollar was on course for a 1.5% gain versus the yen, which would be its biggest weekly gain since July 2018.

The dollar index, which measures the currency against a basket of rivals, edged 0.1% higher to 98.557, near its strongest since mid-October.

The pound was last down at $1.2923 It staged a small recovery against the euro, rising 0.1% to 84.86 pence.

Source : Reuters




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