RTTNews - The euro was mixed in trading with other majors on Tuesday in New York as stocks saw little change in the U.S. and Europe, leaving to uncertain risk appetite. The common currency gained on the dollar, fell against the pound and was in a range against the yen.
The European currency recovered some of its recent slump against the U.S. dollar after trending lower for several days on speculation the Federal Reserve could raise interest rates.
Meanwhile, the euro continued a downward trend against the surging pound that has spanned the week. Against the yen, the euro remained stable after falling away from a multi-month high last week.
Investors considered data showing Germany's exports contracted at an even faster pace annually in April, as global demand continued to remain weak.
The euro climbed above the 1.4000 mark against the U.S. dollar, a day after hitting an 11-day low of 1.3804. Early last week, the common currency hit a five-month high of 1.4338.
The Treasury Department announced Tuesday that it will allow 10 major banks to buy back preferred stock and warrants invested by the department to shore up the financial system.
The European currency fell against the British pound, reaching as low as 0.8592. If the euro gets below 0.8574 it will extend a six-month low.
Bank of England's Monetary Policy Committee member Paul Tucker said the medium-term outlook for the British economy remains highly uncertain, while the near-term indicators improved a bit.
The euro was little-changed against the Japanese yen near 136.80 after briefly slipping to a six-day low of 135.84 in the early-morning hours.
Tuesday, a report from Japan's Cabinet Office showed that the leading index increased to 76.5 in April from 75.5 in March. Economists expected the reading to come in at 77.2.
On the economic front in the Eurozone, data released by the Federal Statistical Office said exports dropped 28.7% year-on-year in April, faster than a 16.2% fall in March, and was the biggest drop since the country's exports embarked on a declining trend in November last year. Further, the latest decline is reportedly the largest on record.
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