The euro weakened in Asia on Monday as moved out of the common currency ahead of a European summit later in the week and the release of closely-watched Chinese economic growth data.The unit dipped to $1.2909 and 101.46 yen in Tokyo afternoon trade from $1.2958 and 101.60 yen in New York late Friday.

The dollar firmed to 78.59 yen against 78.39 yen.

There was little fresh news to drive markets, with euro fall likely stemming from sell orders caused by weakness in other risk-sensitive currencies including the Australian dollar on concerns over China’s economy, traders said.
See more here:
Euro weakens in Asia, eyes on EU summit

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand eyes rice hike plan with Vietnam

Thailand’s move could exacerbate the ongoing food inflation: the United Nations estimates global food prices have risen over 34% in the past year