September 30, 2019 / 11:49 AM / 17 days ago

Euro extends drop after report on German growth cuts

LONDON (Reuters) - The euro extended its fall on Monday and headed for a new two-year low after Reuters reported that Germany’s leading economic institutes had revised down their growth forecast for Europe’s biggest economy for this year.

The single currency weakened 0.3% to as low as $1.0906 after the story was published, which cited sources with knowledge of the institutes’ decision.

The euro hit its weakest since 2017 last week, at $1.0904, weighed down by dollar strength and concerns about an economic downturn in the euro zone.

It also extended losses against sterling, falling half a percent to 88.56 pence

Reporting by Tommy Wilkes; editing by Sujata Rao

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below