The euro fell to a two-week low



[ad_1]

DirectThe euro fell against the US dollar on Friday to its lowest level in two weeks, due to negative economic data and the greenback's recovery.

At 10:25 am GMT, the euro depreciated by about 0.3% against the dollar to reach USD 1,075, its lowest level since August 2nd.

The euro risks a loss of 1.1% against the US dollar.

The decline in the single European currency comes amid a recovery in the performance of the US dollar, with the gradual return of transactions on risky badets, after falling this week due to negative economic data.

Yesterday, however, the United States released positive economic data that contributed to the decline.

The United States announced a 0.7% increase in retail sales last month, compared with a forecast of 0.3%.

Economic data also showed that US productivity had risen by about 1.8% in the second quarter, the fastest pace in four years.

Coinciding with the positive data in the United States, the other negative in the euro area, where economic growth slowed in the second quarter of 2019 to 0.2%, compared with 0.4% in the first quarter.

The German economy has contracted in the second quarter of this year to 0.1%.

The single currency also fell 0.8% against the pound sterling at 0.9119.

[ad_2]
Source link