Euro Falters as Eurozone Leaders Talk About Unemployement

Euro is struggling again as eurozone leaders gather to talk about unemployment. Concerns that economic gains aren’t translating into jobs are weighing on policymakers and others. Of special concern is the disparity in joblessness between northern European countries and those in the south.

Right now, eurozone leaders are meeting to discuss the challenges of unemployment in the eurozone. Even though the jobless rate is one of the lowest in three years, sitting at 10.9 per cent, that average masks a more disturbing trend. In Germany, the unemployment rate is at 4.7 per cent, while in Spain the rate is 22.2 per cent. Greece’s rate is even higher.
So, while the eurozone economy is making modest inroads in terms of economic growth, there are still concerns about what’s next for the region as a whole, and whether or not those economic gains can translate into jobs for Europeans. As a result of some of these concerns — as well as another hit to risk appetite in the world markets — the euro is once again struggling against its low-beta counterparts.
At 12:23 GMT EUR/USD is down to 1.1267 from the open at 1.1279. EUR/GBP barely higher, moving up to 0.7308 from the open at 0.7304. EUR/JPY has just slipped, moving down to 136.0437 from the open at 136.0550.

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