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Euro drops to 1-month low after German ZEW survey
May 13, 2014 / 9:15 AM / 4 years ago

Euro drops to 1-month low after German ZEW survey

LONDON, May 13 (Reuters) - The euro fell to a one-month against the dollar on Tuesday after a German sentiment survey showed a sharp decline in analysts’ expectations for Europe’s largest economy.

The ZEW institute’s index of economic sentiment fell sharply to 33.1 points from 43.2 points a month earlier, well below expectations of a reading of 41.0. The current conditions index rose to 62.1 from 59.5 in April compared to expectations of 60.5

The euro fell to $1.3742 on trading platform EBS after the data was released from around $1.3765 beforehand, leaving it slightly lower on the day. It was the common currency’s lowest level since April 8.

Traders cited support for the euro at its 100-day moving average of $1.3740. (Reporting by Anirban Nag; editing by Patrick Graham)

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