Euro at fresh 17-month low against dollar; Slump in German factory orders add to woes
Mumbai, Oct. 6 -- The euro hit a fresh 17 month low against the dollar on Tuesday triggered by political and fiscal concerns in the euro zone. Elevated debt and political deadlock in France and an upcoming snap election in Spain added to worries in the region. Meanwhile, the dollar index is holding around 102, as US Treasury yields rose to fresh 24 year highs amid growing fiscal concerns and stubborn inflation pressures. Meanwhile, ISM data showed that cost pressures in the US services sector rose at their fastest pace in more than four years last month. In the Euro area, Germany's Factory Orders dropped in August, suggesting that the country's manufacturing sector activity lost momentum, according to the official data published by the Fe...
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