The euro extended its decline during the Monday’s trading session after Italian industrial production demonstrated mixed performance in February. The euro touched the lowest level since June 2013 against the Japanese yen.
Italy’s industrial production grew 0.6 percent in February from the previous month. Yet on the annual basis, the index dropped 0.2 percent. As a result, the report did not help the shared 19-nation currency in determining its direction.
What made the euro to move were the continuous worries about the future of the eurozone. Greece remains a major risk to the wellbeing of the currency union, making the euro much less appealing to foreign investors. The stimulating measures of the European Central Bank make the situation even worse for the currency.
EUR/USD edged down from 1.0587 to 1.0568 as of 22:20 GMT today. EUR/JPY dropped from 127.38 to 126.97. EUR/GBP dipped from 0.7238 to 0.7203 following the earlier rally to 0.7269.
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