The euro moved lower against the lower-yielding dollar and yen on Monday in New York as stocks fell globally, reducing risk appetite. The European currency gained on the pound, moving off of a multi-month low from last week.
The euro was slightly lower against the dollar but remained near a five-week high. The single currency moved near 1.36620 in mid-day trading, compared to the high crossing of 1.3667 last week.
The single currency gave back its gains after it had earlier moved to a two-week high of 0.9036 against the British pound. The euro hit a 2 1/2-month low of 0.8763 last week.
The euro slipped away from a five-week high against the yen, moving near 132.70. The single currency reached as high as 134.80 in overnight trading.
On the economic front in the Eurozone, the European Central Bank said interest rates on corporate loans and households declined in March. In case of loans to non-financial corporations for a period of up to one year, the weighted average rate slipped 29 basis points to 4.03% for loan amount not exceeding EUR 1 million.
Elsewhere, ECB President Jean-Claude Trichet said the global economy is around the inflection point.
Germany's Federal Statistical Office said the real manufacturing turnover decreased a working day adjusted 22% year-over-year in March, compared with a 23.7% fall in February. On a monthly basis, manufacturing turnover increased a seasonally and working day adjusted 1.5% in March, after falling revised 4.8% in February.
Separately, the statistical office said raw steel production in metallurgical plants declined 53.1% year-over-year to 1.88 million tones in April, compared with a 49.8% fall in the previous month.
France's industrial production dropped 1.4% month-on-month in March after a revised 0.9% decline in February, according to data released by statistical office INSEE. Meanwhile, economists had forecast just a 0.5% contraction. Manufacturing production, which excludes food and energy, was down 1.1% in March.
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