Forex News – Euro rises against dollar and yen as Sterling slides
Tuesday saw the euro rise against the dollar and yen as investors looked beyond the slip in share prices, and pushing the euro to near record highs against the weakening sterling, which has fallen sharply on fears over the UK economy continue.
In early trading the euro rose 0.4 percent against the dollar and sterling, pushing it to $1.2787 and 81.94 pence respectively. The euro was also up 0.2 percent against the yen, rising to 125.05 yen.
Investors are also anticipating key German data, which is due out today. The ZEW survey is widely expected to show that investor’s morale is still low this month, and will put pressure on the European Central Bank to keep cutting interest rates after a 0.5% cut to 3.25% last week.