Euroen kæmper for at holde sig oprejst på grund af den svage vækst i euro-zonen. Værdien er den laveste i tre år.
Uddrag fra Fidelity/Reuters:
The euro was on the back foot on Monday, as concerns mounted about weakening economic growth in Europe at a time financial markets and policymakers fret about a new threat to the global economy from a fast spreading coronavirus in China.
The euro, which hit a 33-month low of $1.0817 on Friday, fetched $1.08385 in afternoon Asian trade on Monday, flat so far on the day but down 2.3% since the start of month – the worst performance among G10 currencies.
“Coronavirus is increasingly looking like a long-term issue and thus, at least for currency markets, it will be playing second fiddle,” said Kyosuke Suzuki, manager of currencies at Societe Generale.
“In contrast, sentiment on the euro is becoming clearer, with weak economic fundamentals helping to push it down.”
The German economy stagnated in the fourth quarter due to weaker private consumption and state spending, data showed on Friday, renewing fears of a recession at a time Chancellor Angela Merkel’s conservatives are preoccupied with a search for a new leader.
Europe’s biggest economy posted zero growth from the previous quarter while separate data showed euro zone gross domestic product grew 0.1% quarter-on-quarter in the fourth quarter, in line with forecasts but the weakest since 2014.
There was even a chatter about the possibility of a rate cut by the European Central Bank, with euro zone money market instruments pricing in a small chance of rate cut in coming months, though bond yields were so far little moved.
