EUR/GBP Sinks Below 0.8400 as Disappointing Eurozone Data Weighs
The Euro continues to struggle as it trades flat below the 0.8400 level, barely distancing itself from the recent multi-week lows of 0.8380. Recent Eurozone statistics have intensified the case for more easing from the European Central Bank. The unemployment rate in Germany remained at 6.3 percent; however, the rise in unemployment claims exceeded expectations. Market analysts are closely monitoring this situation for further implications.