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The euro slid to a six-month low against the dollar on Tuesday amid concerns over a weaker eurozone, while the US currency fell versus the yen on fresh worries about the health of US mortgage giants, dealers said.
The European single currency dropped to 1.4631 dollars — the lowest level since February. In later London trading, the euro stood at 1.4671 dollars compared with 1.4696 in New York late on Monday.
Against the Japanese currency, the dollar slipped to 109.90 yen from 110.09.
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German investor confidence improved slightly in August, a key economic indicator suggested on Tuesday, thanks to the recent fall in the price of oil and a weakening of the euro.
The ZEW research institute said its index of economic sentiment stood at minus 55.5 points, up 8.4 points from July when the survey hit its lowest level since its creation in December 1991.
- A d v e r t i s e m e n t
“The pick-up in the German ZEW index in August shows that investors’ expectations for the economy have improved, but this is little consolation given the still low level of the index,” said Capital Economics analyst Jennifer McKeown.
