BLBG:Euro Extends Decline Against Yen After German Production Slumps
The euro extended its decline against the yen and stayed weaker against the dollar after a report showed German industrial production fell in June.
The European common currency fell 0.7 percent to 96.74 yen at 11:03 a.m. London time. It was 0.3 percent lower against the dollar at $1.2367.
Production fell 0.9 percent from May, when it gained a revised 1.7 percent, Germany’s Economy Ministry in Berlin said today. Economists forecast a drop of 0.8 percent, the median of 34 estimates in a Bloomberg News survey showed. Production fell 0.3 percent from a year earlier when adjusted for working days.
To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net
To contact the editor responsible for this story: Peter Woodifield at pwoodifield@bloomberg.net
