Euro declines toward the lowest in four month as output shrinks, but Yen advances

The shared currency dropped toward the lowest in four months versus the greenback as a report indicated manufacturing output and services in the region shrunk, signaling that the economy finds it difficult to recover from recession. The Euro slid 0.2% to $1.2905, while Japanese Yen advanced 0.6% to 95.46 per Dollar. The Eurozone economy has suffered decline for five quarters in a straight row and is predicted to shrink 0.1% in the first quarter of this year before recovering.