Euro Drops on Economic Data, Syria Worries

Euro is lower today, dropping as economic data weighs on the 17-nation currency, and as concerns over Syria increase risk aversion. Euro is heading lower almost across the board, with Greece being pressured to sell assets and uncertainty over the geopolitical situation.

Concerns about the eurozone are on the rise again, thanks in part to the lackluster economic data. Even though there has been economic improvement in the eurozone, things aren’t improving there in the same way as they are in the United Kingdom or the United States. The prospect of tapering in the United States, as well as the improving data points in the United Kingdom, are weighing on the euro.
It’s also not helping that Greece is being pressured to sell assets. Once again, the embattled country is in the spotlight and threatening to bring the eurozone down — or at least be the first currency to leave the monetary union. Syria is also weighing on the euro, with uncertainty driving risk aversion and sending riskier assets lower. There just isn’t a lot to support the euro today.
At 13:48 GMT EUR/USD is down to 1.3241 from the open at 1.3340. EUR/GBP is down to 0.8537 from the open at 0.8592. EUR/JPY is also lower, dropping to 130.1650 from the open at 130.2420.

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