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The euro experienced some weakness versus its major rivals as global stocks paused from a recent rally, limiting risk appeal. The European currency backed off the 15-month high against the dollar it had challenged yesterday.
Economic sentiment in Germany fell more than expected in November, while improvement in current conditions topped economists' expectations, a closely watched report showed Tuesday.
Meanwhile, Germany's Federal Statistical Office said in a final report that the consumer price index remained unchanged on an annual basis in October, compared to the 0.3% fall in the previous month. A year earlier, the CPI inflation was 2.4%.
The euro edged lower against the dollar, a day after challenging a 15-month high. The European currency moved near 1.4950 in Tuesday afternoon trading after reaching 1.5020 yesterday. The euro had reached as high as 1.5059 last month.
The euro slipped off of a weekly high against the sterling. The 16-member currency fell toward 0.8950 after approaching 0.9015 in overnight deals.
UK house prices declined 4.1% year-on-year in September, a report by the Department of Communities and Local Government said Tuesday. Economists expected a 4.8% fall, after a 5.6% drop in the previous month.
The euro slipped within a recent trading range with the yen, moving near 134.30, after seeing some early strength.
Japan's corporate bankruptcies fell 11.7% year-on-year to 1,261 cases in October, Tokyo Shoko Research reported on Tuesday. Corporate bankruptcies dropped for the third month. The size of debts involved dipped 71.1% annually to JPY 290.3 billion.
In the Eurozone, the Centre for European Economic Research or ZEW said the economic sentiment index for Germany fell to 51.1 in November from 56 recorded in October. Meanwhile, economists had forecast a decline to 55.
French industrial production fell 1.5% month-on-month in September after a revised 2.8% increase in August, statistical office Insee said Tuesday. Economists had expected a 0.5% growth for September. On an annual basis, industrial production fell 10.4% after a 10% decrease in August.
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