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- European session: the euro still under pressure
European session: the euro still under pressure
Data:
Euro reached an eight-month low versus the dollar before reports tomorrow that economists say will indicate a slowdown in the European economy.
European finance ministers meeting in Luxembourg considered “technical revisions” to a July deal that foresaw investors contributing 50 billion euros to a 159 billion-euro rescue.
The Dollar Index, which IntercontinentalExchange Inc. uses to track the greenback against the currencies of six major U.S. trading partners, reached 79.823 today, the highest level since Jan. 13, before settling at 79.647.
Goldman Sachs cut its global 2012 economic growth forecast, adding it expects a mild recession in Germany and France and a deeper downturn in the euro area’s periphery over the next few quarters.
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