FOREX-Euro fragile before German data; UK court ruling in focus [Reuters]
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Source: Reuters
FOREX-Euro fragile before German data; UK court ruling in focus - Reuters 3 Min Read * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh By Saikat Chatterjee LONDON, Sept 24 (Reuters) - The euro nursed losses below the $1.10 line on Tuesday after weak eurozone survey data the day before raised concerns the economy was struggling to gain traction despite another dose of stimulus by the European Central Bank earlier this month. But with net positions broadly bearish on the single currency, traders are wary of selling the euro aggressively before German IFO data that will provide more clues on how well Europe’s economic powerhouse is coping with the economic slowdown. “The hope of a stabilisation has been squashed for now and as a result fears of a recession are rising,” Ulrich Leuchtmann, head of FX and commodity research at Commerzbank AG, said. Against the dollar, the single currency drifted lower to $1.09984 and not far away from a September low of $1.0926 hit on Sept. 3 IHS Markit’
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