Search
 

Euro Drops for Third Day

Marks longest losing streak against the dollar in nearly a month.

By Catarina Saraiva and Anchalee Worrachate, Bloomberg | Updated on May 02, 2012

The euro weakened for a third day against the dollar, the longest losing streak in almost a month, after data showed European manufacturing shrank and unemployment rose in Germany, adding to concern the debt crisis will worsen.

The 17-nation currency dropped to a two-week low versus the yen on speculation European Central Bank President Mario Draghi will signal tomorrow policy makers are moving closer to cutting interest rates to spur growth. The dollar erased gains against the yen after private data showed U.S. companies added fewer workers than forecast in April, boosting bets the Federal Reserve may keep accommodative monetary policy in place longer.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.