The Euro dropped against its major counterparts

Source: Bloomberg

The Euro fell against 13 of its counterparts on Wednesday. The single currency lost 0.3% against the Yen and the US Dollar and current rate is JPY 100.35 per EUR and USD 1.2572 per EUR. Moreover, the Euro depreciated against the Swedish Krona  to SEK 8.7093 per EUR. Experts attributed the drop to services sector contraction in Germany and lower risk-appetite ahead of the ECB meeting due on Thursday.

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Wed, 04 Jul 2012 13:22:38 GMT

Platinum soared on global easing hopes

Precious metals rallied on Tuesday amid broadly weaker US Dollar after the IMF lowered the US growth forecast for this year from 2.1% to 2%. Gold rose on speculation about monetary easing by central banks all over the world. The strongest support was provided by hopes for QE3 after US manufacturing activity unexpectedly contracted in June.Silver surged amid mixed world

Wed, 04 Jul 2012 15:27:37 GMT

IMF: "remarkable" economic performance of Germany

On Tuesday the IMF claimed that the economic activity of Germany is notable taking into account the latest encumbrances related to the demand growth and banks' vulnerable situation. Economists also mentioned that country's current fiscal policy is appropriate. IMF also highlighted the importance of the Landesbanken restructuring and Germany's recession management improvement.

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