|01-05-2015, 11:09 PM||#1|
Euro dips after weak German inflation data
The euro slid against the dollar on Monday, after data showed German inflation fell to a five-year low in December.
Inflation in Germany, largest economies of the euro area, fell in December to 0.1%, the lowest since October 2009, compared to expectations for an increase of 0.1%.
Officials at the European Central Bank indicated that the likelihood of full-blown quantitative easing has increased ahead of its meeting on January 22.
The euro was broadly weaker against the dollar on Friday after the negative industrial data. However, the euro started today’s trading session below 1.20.
The weak data added to concerns over the threat of deflation in the euro area, keeping the euro under pressure.
The single currency was also pressured lower by uncertainty over Greece’s future in the euro zone, with its parliamentary elections supposed to take place later this month.
The euro dropped 0.71% against the dollar at 14:30 GMT, trading around 1.1913, compared with entry levels 1.1954.
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