The Euro dropped to under $ 1.30 due to European Data

Monexnews-the Euro plummeting to below $ 1.30 for the first time in two months after a report showed the manufacturing sector is contracting in February and the unemployment rate rose to a record high. The Euro extended declines over the last 4 weeks of the greenback as a sign that the European region still stuck in recession and bracing for the reason the European Central Bank to trim rates bugna. While the dollar index rose to high levels since August as investors meminati more secure assets and the pound plummeted after the United Kingdom's manufacturing index down unpredictably in February.

"The overall Outlook is consistent with eurozone economy still stuck in recession," said Lee Hardman, currency strategic at Bank of Tokyo-Mitsubishi UFJ Ltd. in London. "There is a risk for the euro decline. The ECB can signals early to loosen its readiness to further policy next week. "

(xiang)

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Title Post: The Euro dropped to under $ 1.30 due to European Data
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