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The euro fell against the dollar, a decline of GDP in the euro zone weighs

The euro fell against the dollar on Thursday, weighed down by economic contraction in the euro zone by 2012, the market also safer on the eve of the start of the G20 meeting, which will be particularly examined in the context of concerns possible "currency war ".

Around 1400 GMT (1500 Paris), the euro bought 1.3337 dollars from 1.3452 dollars around 2200 GMT on Wednesday. The single currency fell to $ 1.3315 at 11:15 am, the lowest level in three weeks

The euro fell against the Japanese currency 124,43 ¥ 125,63 ¥ late Wednesday.

The dollar lost some basic against the Japanese currency 93,30 ¥ ¥ 93,39 yesterday.

Eurozone has sunk into recession in the fourth quarter of 2012, with gross domestic product (GDP) retreats 0.6%, according to figures released Thursday worse than expected.

Even Germany, the largest economy in the eurozone, can not escape economic contraction in the fourth quarter, declining stronger than expected GDP -0.6%.

"If Germany had long managed a little escape from the eurozone debt crisis, the latest growth figures show erosion in the heart of Europe," commented Anita Paluch, analyst at Gecko markets.

Kathleen Brooks, these figures are reminded marketers that "the region has yet to climb a steep mountain."

In addition, "brokers prepare comments before the first G20 leaders that the issue of currency war to occupy the heart of the debate," noted Ishaq Siddiqi, an analyst at ETX Capital.

Finance ministers and central bankers of the twenty major rich and developing countries will meet for two days from Friday in Moscow.

Exchange rate and possible "currency war" continue to take care of the markets after the G7 statement Tuesday that failed to convince the monetary problems could be contained, according to analysts.

G-7 countries (Canada, USA, Germany, France, Britain, Italy and Japan) confirmed on Tuesday that left the free market to determine the exchange rate, while holding his "excessive volatility" was negative.

Japan noted in recent weeks after the rapid weakening of its currency, the monetary policy of the Bank of Japan (BOJ) has opted for the monetary status quo.

Japan's central bank decided in late January to ease monetary policy further, which had the effect of reducing its currency previously considered too high by the new government, in power since mid-December.

"The Bank of Japan's decision to refrain from new stimulus is not surprising in view of the allegations of manipulation of its currency rise in recent weeks," said Michael Hewson, analyst at CMC Markets.

Around 1400 GMT, the British pound rose against the euro at 86.02 pence per euro but fell against the dollar at $ 1.5505, even falling $ 1.5493 ??at 0830 GMT, its lowest lowest level since the beginning of August.

The Swiss franc rose against the euro at 1.2295 Swiss francs against the euro but fell against the dollar at 0.9218 Swiss francs to the dollar.

Ounce gold ended in 1644 dollars at auction morning against $ 1645 Wednesday.

Chinese currency finished 6.2326 yuan against one dollar for 6.2325 yuan yesterday.
Posted in  on 19:16 by herman |   Edit