Monexnews-
The Euro plummeted deeper tap his lowest level 6 weeks after various eurozone bank lending during the crisis the ECB pays lower than expectations.
Euro zone Banking reported only pay 60 billion euros, or the equivalent of $ 81 billion of the loan total of 530 billion Euros taken at second stage LTRO injection this year, far below the estimated 130 billion euros.
Debt service payments to this declining LTRO indicated that although the cash funds in the banking system to withstand the pressure in the money market but on the other side of the various banks also feels still needs to hold most of the ECB's Emergency Fund.
The Euro fell to 1.3158 intraday low after the ECB publish such data, shrank from 1.3210 level. All this week the EURUSD pair has weakened 1 percent over worries of a weak economic fundamentals in the Euro zone.
Report on economic projections released by the European Commission also did not help sentiment, after Spain, France and reported Portugal will likely miss the target of deficit.
(Sap)
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