Forex - Euro Falls on Economic Outlook; Krona Slides Versus Major Peers

Posted by Forexsq 1114 days ago (
img The euro slid to a two-month low against the dollar and the weakest level in almost a month versus the yen as a drop in French industrial production added to speculation Europe’s economic outlook is worsening.

The 17-nation currency headed for weekly declines against the yen and greenback as Greek lawmakers prepare to vote Nov. 11 on next year’s budget. The euro pared losses after U.S. consumer confidence climbed to a five-year high. Sweden’s krona tumbled against all of its 16 most-traded counterparts, and Brazil’s real fell to a four-month low versus the greenback.

“It doesn’t really come as a surprise that there are growth concerns in Europe -- they are in a recession -- but the contraction looks like it may be deeper,” said Eric Viloria, senior currency strategist for Gain Capital Group LLC in New York. “It’s going to add to negativity and weigh on the euro.” forex

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