The euro slipped against the dollar on Tuesday and reached its lowest level in more than two months. The European currency fell through the early morning before leveling off at around 4 a.m. It dropped again at around 8 a.m. It touched as low as 1.3311 at 10:15 a.m. ET, its lowest mark since early April. Greenback traders await the release of American PPI and CPI data later this week.
Also on Tuesday morning in New York, the euro dropped to a three-month low against the British pound. The European currency began to trend down in overnight hours and continued to do so throughout the morning. It got as low as 0.6743 at 11:15 a.m. ET. This is its lowest mark since early March. Traders considered data showing that Euro zone industrial output fell 0.8% in April. Trading took place amid the release of data showing that UK Consumer Price Index annual inflation slowed more-than-expected in the month of May.
The euro declined against the Japanese yen on Tuesday morning in New York. The currencies were range-bound into the morning until the euro dropped sharply beginning at around 8 a.m. It touched as low as 162.06 at 11:15 a.m. before bouncing back slightly. Traders considered data showing that Euro zone industrial output fell 0.8% in April. Traders looked ahead to key Bank of Japan monetary policy meeting, scheduled for Thursday and Friday.
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