The euro extended its move down against the US dollar and the Japanese yen for the third straight session today as the eurozone inflation came out below analysts’ expectations.
The flash eurozone inflation was stable at 0.2 percent in December, the same rate as in November. Yet the reading missed the median forecast of 0.4 percent. The report followed yesterday’s data that showed that Germany has entered deflation (at least on the monthly basis).
EUR/USD declined from 1.0827 to 1.0767 as of 11:00 GMT today. EUR/JPY edged lower from 129.35 to 128.23, and its daily low of 127.97 was the weakest rate since April 23.
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