Euro continues decline
Posted on June 10th, 2005 by Brian Turner
The euro continued to decline against other currencies on Friday, falling 0.8 percent for the week to $1.2130 in relation to the US dollar, a nine-month low.
It also declined 0.1 percent for the week to a one-year low of ¥131.51 against the yen. The euro also fell 0.8 percent on the week in relation to sterling, to £0.6690, a ten-month low, and it was down 0.8 percent to NKr7.8358 against the Norwegian krone.
That was a two year low. The euro was affected by new French data showing industrial production down 0.3 percent in April, a larger than expected drop and the third consecutive month of decline.
Also, the French trade deficit rose from €2.34 billion in March to €3.22 billion in April as a result of record imports.
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