The euro fell today as German economic growth trailed forecasts, reducing investors’ optimism about the future of the eurozone.
Today’s report showed that “the German economy is slow in gaining momentum” as gross domestic product barely rose 0.1 percent in the first quarter of 2013. Analysts have hoped for 0.3 percent expansion. At the same time, the US economy looks robust enough, driving the Dollar Index to the highest level in almost 10 months.
EUR/USD fell from 1.2918 to 1.2901, trading near the lowest since April 4, and EUR/JPY ticked down from 132.28 to 132.07 as of 9:33 GMT today.
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