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08:30 United Kingdom GDP, q/q (revised) Quarter II -0.3% -0.5% -0.5%
08:30 United Kingdom GDP, y/y (revised) Quarter II -0.2% -0.6% -0.5%
08:30 United Kingdom Business Investment, q/q Quarter II +1.9% +2.8% -1.5%
08:30 United Kingdom Business Investment, y/y Quarter II +14.8% +3.6% +1.7%
The euro fell for the first time in five days against the dollar as Greek Prime Minister Antonis Samaras began meetings with his German and French counterparts to ask for more time to meet economic targets.
The common currency pared the biggest weekly gain versus the greenback since February after a German lawmaker said Europe’s largest economy can’t make more money available for Greece. Samaras is meeting German Chancellor Angela Merkel today and French President Francois Hollande tomorrow.
Merkel said Germany and France will keep pressure on Greece to overhaul its economy when she meets Samaras, who is seeking more time to fix his debt-ravaged country.
The pound dropped for a second day against the dollar after a government report showed the U.K. economy contracted in the second quarter.
Gross domestic product shrank 0.5%, compared with a 0.7% decline estimated on July 25, the Office for National Statistics said in London.
EUR/USD: during the European session, the pair declined, reached $1.2500 area.
GBP/USD: the pair showed low in $1.5820 area, later rate slightly retreated higher.
USD/JPY: the pair remained within yesterday's range.
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