Euro hits 11-year low against Japanese Yen before Merkel-Sarkozy meeting

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Source: Bloomberg
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17-nation currency reached 11-year record low against Japanese domestic currency and traded 0.3% from the lowest reading in 16 months before French and German leader meeting today in Berlin. Officials are planning to come up with a rulebook promoting fiscal discipline. Euro lost 0.2% reaching ¥97.74 and dropped 0.1% against US Dollar to $1.2704. EUR/USD currently is trading at $1.2717 while EUR/JPY is trading at $97.81.

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Mon, 09 Jan 2012 14:59:59 GMT

Merkel and Sarkozy meet today to rescue Euro

German Chancellor Merkel and French President Sarkozy meet today in Berlin to create a dominant plan for saving the Euro in upcoming three months. Both officials prepare to stretch out a rulebook determining the fiscal discipline discussed during summit on December 9. Rulebook is supposed to provide guidelines for fiscal regulations across the Euro Zone. 

Mon, 09 Jan 2012 15:51:12 GMT

Australian retail sales steady in December

Australian retail sales stayed at the same level in December, according to official data. The country's retail sales for the month showed 0% seasonally adjusted increase from November while November's retail sales saw 0.2% monthly growth, according to Australian Bureau of Statistics. Analysts had expected the indicator to rise by 0.4% in December.

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