Euro Near Week Low Versus Dollar Before Sentiment Report

The euro was 0.3 percent from its lowest in more than a week before reports that may show Europe’s debt crisis is hurting sentiment in the region.

The 17-nation euro held a five-day drop versus the yen before data forecast to show French business confidence worsened. Other reports due today may show consumer sentiment in Germany and Italy stagnated. The yen was less than 0.1 percent from one-week high versus the dollar as a drop in global shares spurred demand for Japan’s currency as a refuge.

“We’ve got no signs of a pickup or improvement in the euro zone,” said Ray Attrill, the Sydney-based global co-head of foreign-exchange strategy at National Australia Bank Ltd. “Sentiment is probably going to keep the euro a little bit heavy.”

via Bloomberg

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