July 19, 2012
The euro was little changed against the dollar on Thursday after hitting a record low against the Australian dollar and a 3-1/2-year trough versus sterling, as weak U.S. data and Germany’s fresh warnings about Spain’s banking troubles diminished risk appetite.
A slew of soft U.S. economic data affirmed views that recovery in the world’s largest economy has stalled, prompting investors to pare back positions in risky but higher-yielding assets.
Riskier currencies such as the Australian and New Zealand dollars were still up on the day against the dollar and euro, but off their peaks.
This article was posted: Thursday, July 19, 2012 at 3:09 pm