Euro is losing ground today in currency trading, thanks in large part to a report from the Organization for Economic Cooperation and Development. This report indicates that the eurozone’s economic growth is lagging behind the United States and United Kingdom. The worry of deflation is also weighing on the euro.
Even though the latest construction figures look a little more promising, and even though there has been some growth in the eurozone, the 18-nation currency is lagging today. Part of the problem has to do with the fact that the OECD released a report, and it underscores the fact that the eurozone economy is growing at a slower pace than the economies of the United States and United Kingdom.
There are concerns about deflation risk in the eurozone as well. All of these worries have some wondering if the ECB will be forced to take measures to further ease monetary policy. After a big surge yesterday, profit taking, uncertainty, and concerns about the economy are all combining to send the euro mostly lower against its major counterparts today.
At 14:09 GMT EUR/USD is down to 1.3743 from the open at 1.3758. EUR/GBP is also lower, falling to 0.8246 from the open at 0.8250. EUR/JPY is down to 140.2705 from the open at 140.8100.
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