Euro Broadly Weaker To Majors Thursday Morning, Thursday, May 24, 2007 7:16:39 AM
The euro softened broadly against its major counterparts Thursday morning in New York, falling to a 6-week low against the sterling. Investors mulled over data showing the German economy expanded 0.5% sequentially in the first quarter.The euro lost ground to the dollar Thursday morning in New York, falling to 1.3425 after moving around 1.345 in overnight dealing. Traders await Thursday`s report on weekly jobless claims, while the Commerce Department will release reports on April durable goods orders and new home sale.
The euro eased further from a record high against the yen Thursday morning in New York, dropping to 162.90 after fetching 163.60 the previous evening. Traders considered data showing that the Japanese economy is expected to grow 2.3 percent in 2007.
The euro extended losses the from the previous 2 sessions against the sterling Thursday morning in New York, dropping to a 6-week low of .6762 amid data showing that British business investment fell unexpectedly in the first quarter.
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posted by Kalin Tasev @ 5:19 AM
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