Friday Forex Wrap
February 15, 2013 in Forex
Yesterday was Europe’s turn to be the subject of markets’ scrutiny. The single currency lost more than one per cent of its value versus the Dollar yesterday. The cause; GDP.
Even Germany seem to be struggling to grow their economy in such tricky times. Yesterday Berlin reported that their productivity in the fourth quarter was down 0.6% compared to the third. Markets were expecting a low reading, because the German economy is typically a little more sedate in Q4, but a move this low is the fastest decline in economic output since the start of the European crisis back in 2009.
Read about the rest of the world’s forex activity for the week @ RealTrader Blog