FOREX-Euro below $1.10 as German survey fails to dispel slowdown fears [Reuters]
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Source: Reuters
Euro below $1.10 as German survey fails to dispel slowdown fears - Reuters 3 Min Read LONDON (Reuters) - The euro held below $1.10 on Tuesday as positive German business morale survey data calmed sentiment, with large short bets against the single currency also keeping investors sidelined. German business morale rose in September for the first time in six months but Europe’s largest economy is still likely slipping into recession as the U.S.-China trade conflict and Brexit bite, the Ifo economic institute said. “The data was quite negative but I think the euro has stabilized for now and we see it heading up to $1.12 versus the dollar in the coming months,” said Manuel Oliveri, an FX strategist at Credit Agricole in London. Against the dollar EUR=EBS , the single currency was broadly steady at $1.0989 and not far from a September low of $1.0926 hit on Sept. 3. On Monday, IHS Markit’s Euro Zone Composite Flash Purchasing Managers’ Index (PMI) sank to 50.4 in September from 51.9 in Augus
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