Euro drops further vs US dollar
The euro is down against the U.S. dollar as traders are continuing to seek the safe-haven currency amid uncertainty about the strength of the global economic recovery.
By Agencies |
BERLIN: The euro is down against the U.S. dollar as traders are continuing to seek the safe-haven currency amid uncertainty about the strength of the global economic recovery.
The euro bought $1.2638 in morning European trading Tuesday, down from $1.2682 the night before in New York. The British pound is down to $1.5418 from $1.5535 in New York, while the dollar is down to 84.91 Japanese yen from 85.28 yen the night before.
A survey of purchasing managers in Europe on Monday that suggested business activity grew more slowly in August helped put pressure on the 16-nation euro.
Both the dollar and yen are commonly used by traders as safe havens.
The euro bought $1.2638 in morning European trading Tuesday, down from $1.2682 the night before in New York. The British pound is down to $1.5418 from $1.5535 in New York, while the dollar is down to 84.91 Japanese yen from 85.28 yen the night before.
A survey of purchasing managers in Europe on Monday that suggested business activity grew more slowly in August helped put pressure on the 16-nation euro.
Both the dollar and yen are commonly used by traders as safe havens.
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