TOKYO, Feb 18 ― The euro fell towards a three-year low versus the dollar ahead of a highly watched German survey today, which is expected to show a sharp slump in investor confidence and fuel growing pessimism about the outlook for Europe's largest economy. Financial markets clung to tight ranges...
Tuesday, 18 Feb 2020 11:24 AM MYT
Financial markets clung to tight ranges following a US public holiday yesterday, shifting the investor focus to European news and developments in the coronavirus crisis. “The euro is close to testing an important support level at US$1.08 due to the diverging economic outlook between the euro zone and the United States,” said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo.
Sterling also nursed losses against the dollar and the euro due to worries about economic ties between Britain and the European Union as both sides laid out conflicting views on how to proceed with trade negotiations. Frost's comments contrast with those of European Commission President Ursula von der Leyen, who has called on Britain to guarantee fair competition based on ambitious environmental and labour standards.
China's Hubei province, considered the epicentre of the coronavirus outbreak, said new cases of the illness fell slightly to 1,807 yesterday from 1,933 the previous day.
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