Bloomberg News

Euro Stays Lower Against Dollar as Economic Confidence Declines

July 30, 2012

The euro stayed weaker against the dollar and the yen as economic confidence in the region decreased more than economists forecast.

Europe’s common currency fell 0.5 percent to $1.2267 at 10:36 a.m. London time and was 0.8 percent lower at 95.94 yen.

An index of executive and consumer sentiment in 17-nation euro area dropped to 87.9 from 89.9 in June, the European Commission in Brussels said today. That’s the lowest since September 2009. Economists had forecast a drop to 88.9, the median of 26 estimates in a Bloomberg News survey showed.

To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net

To contact the editor responsible for this story: Peter Woodifield at pwoodifield@bloomberg.net


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