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The euro slipped versus the dollar on Thursday in New York as lower U.S. stocks reduced risk appeal. The European currency also slipped against the pound and was range-bound with the yen.
In the editorial of its latest monthly bulletin, the European Central Bank said Eurozone economic activity is likely to improve in the second half of this year, though uncertainties remain high as a number of supporting factors are of a temporary nature.
ECB Executive Board member Gertrude Tumpel-Gugerell said Thursday that the Eurozone has passed the worst of the crisis.
Eurozone industrial production rose for a fifth month in September, raising speculation that third quarter economic performance may surprise on the upside.
The euro dropped to a four-day low against the greenback near 1.4860 after approaching a 15-month high above $1.50 earlier in the week.
The euro was little changed amid choppy trading versus the yen, moving near 134.60. The pair has been in a range throughout the week.
The Bank of Japan said the corporate goods price index dropped 0.7% month-on-month in October, after staying flat in the previous two months. Year-on-year, producer prices were down 6.7%, smaller than the 8% fall in September, but bigger than economists' expectations of a 6% drop. Annually, producer prices have been declining continuously since the beginning of the year.
The European currency slipped off a two-week high against the British pound and moved near 0.8980. The euro had reached above 0.9060 earlier.
Eurozone industrial output rose 0.3% month-on-month in September after an upwardly revised 1.2% increase in August, data released by the Eurostat showed Thursday. However, the figure came short of the 0.5% rise economists had expected. On an annual basis, industrial output continued to drop at double-digit pace, by 12.9% in September after a revised 15.1% decline in the previous month.
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