The EUR fell for a sixth day versus the greenback, hitting a low of to $1.4029, its lowest level since July 30 as a slew of negative news came out of the Euro-Zone throughout the day and continued concerns over Greek sovereign debt. Despite the EUR afternoon rebound against the dollar, it remained sharply lower against the yen, losing more than 1%. The EUR is currently at $1.4129 from $1.4097 late Thursday in New York. The EUR was at Y127.27 from Y128.69. The U.K. Pound is currently at $1.6212 from $1.6195 yesterday.
Growth sensitive currencies like the EUR were under pressure today amid concerns Greece will fail to contain its budget deficit and the possibility of sagging Chinese growth. The continued Greek budget crisis seems to have a continued negative affect on the common currency.
While a slow news day is expected today, the release of the Industrial New Orders at 10:00 GMT might provide some support for the EUR with a better than expected result. Also the release of the British Retail Sales at 9:30 GMT should provide volatility to the Pound.