Lutz Karpowitz News
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The euro’s 25 percent jump against the yen over the past six months underscores the rising pressure on European Central Bank President Mario Draghi to cut interest rates as the region’s exporters lose out to Japan.
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The euro fell to a two-week low against the dollar as a report showed services and manufacturing in the region shrank for a 15th month, adding to speculation the European Central Bank will cut interest rates to spur growth.
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The euro fell to a two-week low against the dollar as a report showed services and manufacturing in the region shrank for a 15th month, adding to speculation the European Central Bank will cut interest rates to spur growth.
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The yen weakened beyond 99 per dollar for the first time since May 2009 on speculation Bank of Japan measures to fight deflation announced last week will further debase the currency.
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The yen weakened to the lowest level against the dollar since May 2009 on speculation Bank of Japan measures to fight deflation announced last week will further debase the currency.
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The dollar remained lower against the euro after the Federal Reserve signaled gains in employment aren’t yet sufficient for policy makers to move closer to reducing stimulus measures.
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The euro strengthened from a four- month low against the dollar as Cyprus sought alternatives to the European Union plan to help the nation avoid a banking collapse and the Federal Reserve maintained stimulus measures.
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The euro fell from near an 11-month high against the dollar after reports showed Italian industrial orders dropped and Spanish bad loans increased, adding to signs the region’s economy will struggle to expand this year.
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The pound rose against the euro amid growing confidence that the U.K. will recover at a faster pace than other European economies struggling to contain their budget deficits.
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The euro weakened against the dollar on concern the region’s economy will struggle to grow this year.
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