Euro Falls Lower as ECB Official Says Key Rate Might Reduce

"Euro Falls Lower as ECB Official Says Key Rate Might Reduce"ECB governing council member and president of Bundesbank, Jens Weidmann said that key interest rate could be lowered if economic data suggest that.

The EURUSD fell from 1.3198 finding support at 1.30 by losing 1.5% in less than 10 hours. The euro against the Japanese Yen also declined from 129.67 to 126.56 and the EURGBP sank to support at 0.8533 from recent peak at 0.8625.

The British pound was also sluggish because of the Claimant count that dropped yesterday while it was expected to remain unchanged. Following that the GBPUSD dropped from 1.5378 to two weeks low at 1.5217.

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Daniel Moore

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