Euro
extended losses as deflation looms
09.30.2014
The
euro extended
losses to trade near two years low, and dropped sharply below the key level of
$1.2600 on today European session.
After the
release of data about the Euro area CPI, revealed that core inflation has fallen
to five years low in the moth of September. Also European CPI recorded a retreat
of 0.3%. In fact, Euro area core CPI
declined to 0.7% versus 0.9% estimated - below the ECB main target of 2%. The
recent data has increased worries about the slow economic growth in Euro area
and the continued deflation rates, which may push the EBC president in his
meeting due on Thursday to consider new measures in order to support the
economy.
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