Euro Weak as Eurozone Economy Continues to Look Soft

The euro remained soft today as the eurozone economy continued to look not that hot, with economic data pointing at weakness.
Eurostat reported that the Producer Price Index rose 0.2% in July from the previous month after falling 0.6% in June. Analysts had predicted a slightly bigger increase of 0.3%. The weaker-than-expected data added to the negative impact of the US-China trade conflict and fears of disorderly Brexit.
EUR/USD dropped from 1.0966 to 1.0935 as of 12:02 GMT today, and its daily low of 1.0926 was the lowest since May 2017. EUR/JPY declined from 116.52 to 116.05, touching the low of 115.86 — the lowest since April 2017.

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