Investing.com – The euro was down against the yen on Tuesday, falling to hit a fresh 2-day low, after data showed that German economic sentiment fell to a 19-month low in August.
EUR/JPY hit 106.84 during European morning trade, the pair’s lowest since September 10; the pair subsequently consolidated at 107.00, shedding 0.77%.
The pair was likely to find support at 105.95, the low of September 9, and resistance at 107.93, Monday’s high.
Earlier in the day, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to -4.3 in September, after rising to 14 in August.
Analysts had expected the index to decline to 10.7 in September.
On the index a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
The report also said that economic sentiment in the euro zone fell to 4.4 in September, after rising to 15.8 in August.
The euro was also down against the U.S. dollar, with EUR/USD shedding 0.34% to hit 1.2838.
Also Tuesday, Japanese incumbent Prime Minister Naoto Kan defeated rival Ichiro Ozawa, to maintain leadership of Japan’s ruling Democratic Party.
EUR/JPY hit 106.84 during European morning trade, the pair’s lowest since September 10; the pair subsequently consolidated at 107.00, shedding 0.77%.
The pair was likely to find support at 105.95, the low of September 9, and resistance at 107.93, Monday’s high.
Earlier in the day, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to -4.3 in September, after rising to 14 in August.
Analysts had expected the index to decline to 10.7 in September.
On the index a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
The report also said that economic sentiment in the euro zone fell to 4.4 in September, after rising to 15.8 in August.
The euro was also down against the U.S. dollar, with EUR/USD shedding 0.34% to hit 1.2838.
Also Tuesday, Japanese incumbent Prime Minister Naoto Kan defeated rival Ichiro Ozawa, to maintain leadership of Japan’s ruling Democratic Party.