Euro plunges on Draghi's claim

Source: Bloomberg
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17-nation currency declined against Japanese yen reaching 3-week low as well as fell to a 1-month record low against greenback after ECB President Mario Draghi told he did not indicate bank's intervention by purchasing bonds from debt-troubled countries to stimulate growth. Euro depreciated 0.6% to ВҐ103.55 against yen in New York afternoon trade and lost 0.7% to $1.3323 against US dollar. EUR/JPY currently is trading at ВҐ103.63 and EUR/USD is trading at $1.3335.

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Thu, 08 Dec 2011 20:28:43 GMT

South Africa manufacturing output slows in October

South African production growth declined in October to 1% or significantly more than was previously predicted by economists. The deepening debt turmoil in Europe which accounts for about one third of South African produced goods has seriously undermined countries exports. Hampering output may force Gill Marcus, the Governor of Reserve Bank to leave key lending rate at 5.5% or 30-year record low.

Thu, 08 Dec 2011 20:27:49 GMT

Japan wants to penalize Citigroup Inc

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