Euro Extends Slide Against Majors

Euro Extends Slide Against Majors


The euro extended decline against other major currencies ahead of the European session on Thursday.
Germany's producer price inflation accelerated more than economists expected in August, data released by statistical office Destatis showed today.
The producer price index increased 1.6 percent on an annual basis in August, notably faster than the 0.9 percent gain seen in July. Economists were looking for a 1.5 percent growth.
The euro hit 1-week lows of 1.2973 against the greenback and 1.2084 against the franc and the euro may break 1.29 and 1.205, respectively on the downside.
Against the pound, the euro declined to 0.8019 around 2:05 am ET.
The euro fell to a 6-day low of 101.36 versus the yen and the euro-yen pair may likely find support at 101.00 level.