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Yesterday the euro fluctuated against the dollar after touching the weakest level since July 2010 as German manufacturing data dropped and traders speculated measures may be taken to relieve the bloc’s debt crisis. A German index based on a survey of purchasing managers in the manufacturing industry declined to 45 this month from 46.2 in April, Markit Economics said.
The Swiss franc weakened to its lowest level in two months against the euro amid speculation the central bank may take action to discourage investment in the nation through taxing deposits.
Britain’s pound weakened against the dollar after a report showed U.K. retail sales fell the most in more than two years.
Sales including auto fuel declined 2.3% in April from the previous month, a report showed. The median forecast of economists was for a 0.7% decline.
EUR/USD: yesterday the pair fell come nearer to $1.2500.
GBP/USD: yesterday the pair fell, updated a monthly low.
USD/JPY: yesterday the pair holds nearby Y79.50.
European data for Friday starts at 0600GMT with German construction orders, shortly followed at 0610GMT by the Gfk measure of German consumer confidence. US data at 1355GMT sees the Michigan Sentiment Index, which is expected to be unrevised at a reading of 77.8, still up from the final April estimate for 76.4. Late data sees the 2015GMT release of US C&I loans data.
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