The euro saw slight weakness against the pound and franc on Wednesday in New York, but was range-bound against the dollar and yen. Traders considered data showing the Eurozone annual inflation continued to fall for the second straight month in September as prices of food, housing and transport recorded marginal decreases. Wednesday, the Eurostat said in a final report that the Eurozone annual inflation slowed to 3.6% in September from 3.8% in August. The final figure matched the flash estimate released on September 30 and the consensus forecast. The statistical office said the inflation rate was 2.1% in the previous year. However, it continued to stay above the European Central Bank target of "below, but close to 2% over the medium term". Inflation had peaked to 4% in June and in July, which was the highest since June 1992. Also on Wednesday, the Norges Bank's Executive Board announced on Wednesday cut its key interest rates by 50 basis points to 5.25%, as expected. Norway did not participate in the coordinated rate cut last week that included the ECB, U.S. Fed and Bank of England. The euro was stable with the dollar on Wednesday, moving at 1.3578 in the late morning. The European currency eased away from a six-day high on Tuesday after rebounding away from a yearly low last week. A U.S. Department of Commerce report showed that retail sales fell by 1.2 percent in September following a revised 0.4 percent decrease in August. A Department of Labor report showed that the producer price index fell by 0.4 percent in September following an unrevised 0.9 percent decrease in August. The European currency was also little-changed against the sterling, after hitting a weekly low of 0.7735. The pair exchanged at 0.7775 in the late morning. The euro was range-bound with the Japanese yen, moving at 137.60. The European currency hit a nine-day high of 141.73 on Wednesday. The euro dipped to 1.5373 against the Swiss franc. by RTT Staff Writer For comments and feedback: contact editorial@rttnews.com

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