Euro Falls Against Rivals In Afternoon Action
Friday, February 02, 2007 2:28:45 PM - The euro fell against its rivals as trading progressed on Friday into the afternoon. The currency moved as the Euro-Zone released its PPI data for December.
The euro moved little overnight into the morning, but fell sharply into trading in the afternoon. The euro reached a mark of 1.2961. The euro has moved little against the dollar over the past few days, moving near a weekly high.
Similarly against the pound, the euro pushed sideways against the sterling overnight into the morning. However, the currency fell to a mark of 0.6590 as afternoon trading progressed. Overall, the currency has gained back some of its losses against the cable over the past few days, moving near a two week high.
Meanwhile, the euro climbed against the yen as trading began on Friday. However, the currency more than gave back its gains as afternoon trading progressed. The currency has earned back its losses over the past two days, and remains in a two week range against the yen.
In December, industrial producer price index in the Euro-Zone remained unchanged over the prior month, as in November. However, the index rose 4.1% from the previous year.