On Tuesday the euro hit a 2-1/2-month low versus dollar, effected by concerns about the health of euro zone banks, while traders have also been prompted by a slip in German economic sentiment to dump the single currency.
According to Reuters data, the euro fell to $1.4527, which is its weakest since early October. The currency has extending losses after the German ZEW think tank said economic sentiment fell in December, suggesting that there would be a slow recovery in the country.
Report by Austria’s Die Presse
The Euro was also knocked by a report by Austria’s Die Presse which said that monetary authorities had put Oesterreichische Volksbanken, on a watchlist. This bank is the nation’s No. 4 bank. It has been said by the bank that the report was not correct.
The euro traded at $1.4537, by 1219 GMT, this is a drop down of 0.8 percent on the day.
Rise in Dollar
The drop down in euro helped the dollar to move up to a 2-1/2-month high of 76.922 against a currency basket.
Dollar against higher-risk currencies
The dollar improved across the board, climbing a full percent to 89.51 yen , and it has also raised against higher-risk currencies, that includes sterling and the Australian dollar.
Dollar Vs Euro
The euro dropped down almost 3% Vs the dollar since the start of the month and since January it is on track for its worst monthly performance.
Dollar Index
The dollar index raised up 2.7% so far in December, poised for its best month this year.
Australian dollar fell roughly 1% against dollar against US dollar.
People who liked this Post also read
- EUR/USD hits 2 1/2-Month low, hit by ZEW survey
On Tuesday the euro hit a 2-1/2-month low versus dollar, effected by concerns about the health of euro zone banks, while traders have also been prompted by a slip in German economic sentiment to dump the single currency...... - Euro gained against dollar after firmer German Ifo
On Tuesday the euro rise against the dollar, reversing earlier losses as a firmer-than-expected German sentiment survey offset concerns about the country's banking sector.A bigger-than-expected rise in the German Ifo November business climate index has he... - Dollar gains; higher-yielding currencies lose shine
On Friday the dollar rise, giving an extension to the previous day's gains as investors retreated from riskier assets, taking the shine off higher-yielding currencies such as the Australian dollar.Today Tokyo's Nikkei average fell 0.5% and after the U.S. ... - Euro gained Vs Dollar, boosted after Dubai Secures Funding
On Monday after Dubai's announcement that it had received help from Abu Dhabi to repay its debts improved risk appetite and reduced some of the U.S. currency's safe-haven appeal and as a result of this, the euro has shown a rise versus...... - Dollar jump on Dubai Debt Worries, but Markets remained calm
On Friday the yen hit a 14-year high against the dollar and it rallied broadly, while the dollar climbed against most other currencies as carry trades and risk exposure were cut down by the investors on concern about Dubai's debt problems. However, by mid...
