TOKYO, Feb 17 — The euro was on the back foot today, as concerns mounted about weakening economic growth in Europe at a time financial markets and policymakers fret about a new threat to the global economy from a fast spreading coronavirus in China. The euro, which hit a 33-month low of US$1.0817...
Monday, 17 Feb 2020 09:35 AM MYT
The euro, which hit a 33-month low of US$1.0817 on Friday, fetched US$1.08385 in early Asian trade today, flat so far on the day but down 2.3 per cent since the start of month. The German economy stagnated in the fourth quarter due to weaker private consumption and state spending, data showed on Friday, renewing fears of a recession at a time Chancellor Angela Merkel's conservatives are preoccupied with a search for a new leader.
US core retail sales was flat last month, lagging expectations of 0.3 per cent growth while its rise in December as revised down to 0.2 per cent from a previously reported 0.5 per cent.Still, economists have blamed one-off factors such as warm weather and output suspensions stemming from troubles at Boeing for the downbeat numbers.
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