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Euro Slumps Against the Dollar; Weak Eurozone Growth By Investing.com

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© Reuters.

By Peter Nurse

Investing.com – The U.S. dollar remains in demand, and it’s the beleaguered euro which is taking a lot of the associated beating Friday as investors fret about low growth in the single currency region.

The dollar was also underpinned by the announcement of the New York Federal Reserve on Thursday that it will cut the volume of its open market operations slightly ahead of schedule, tightening liquidity in U.S. funding markets.

At 03:00 ET (0800 GMT), traded at 1.0842, having fallen as low as 1.0828 overnight, the lowest level since April 2017. The , which tracks the greenback against a basket of six other currencies, stood at 98.957, again just off heights not seen for over two years. traded at 1.3058, trading in relatively quiet waters.

Thursday’s GDP figures for Germany, the eurozone’s largest economy, showed that growth stagnated at the end of 2019, leaving the economy in a weakened state…



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https://www.investing.com/news/forex-news/forex–euro-slumps-against-the-dollar-weak-eurozone-growth-2084964

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