The euro weakened today s the Spanish lenders borrowed the record amount form the European Central Bank and after the region’s industrial production expanded less than predicted.
Spainâs financial institutions borrowed the record â¬126.3 billion from the ECB last month as the investors avoided the local banks. The seasonally adjusted industrial production grew by 0.9 percent in May compared with April in the Eurozone. The median forecast was the growth by 1.2 percent.
EUR/USD traded at 1.2700 as of 12:06 GMT today after it opened at 1.2722. EUR/JPY dropped to 112.46 from its opening level of 112.87.
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