Euro falls, as the Euro Zone heads into a recession
After rallying earlier in the week, the euro fell against both the dollar and yen as key European data showed that the euro zone was technically in a recession.
The figures showed that France had managed a small growth between July and September, but other key figures also showed that the euro zone was in a technical recession after German growth contracted for the second successive quarter.
The euro was over 1% down compared with the dollar, and 1.4% down against the low-yielding yen in the early trading session. It was not all bad news for the euro, which still hovers near an all time high against the sterling, as investors fear that a UK recession will be more severe than a euro zone one.