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Euro Declines

Euro DeclinesEuro Declines

The euro declined against the dollar as investors awaited data on inflation in the 19-nation currency bloc, Bloomberg reported. While economists forecast the report will show eurozone inflation quickened to 0.3% in December, data showed consumer-price growth in Germany, the region’s largest nation, unexpectedly slowed last month. The euro dropped 0.4% to $1.08 London time. It touched $1.07 on Monday, the lowest level since Dec. 3. The eurozone’s embattled currency will soon be worth less than the US dollar for the first time in more than 13 years, analysts at Bank of America Merrill Lynch have predicted. It will fall to $0.95 by the end of the year, tumbling from $1.08 now, analysts said Tuesday.

Financialtribune.com