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2/14, 9:40 AM (Source: TeleTrader)
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Euro drops to lowest level since 2017

The euro traded lower on Friday, dropping to the lowest level against the dollar since May 2017 after the release of worse-than-expected German GDP figures.

In its preliminary report, Germany's statistical office Destatis earlier said that the country's economy stagnated in the fourth quarter with the quarterly GDP growth at 0%. Investors will also be keeping an eye on the Eurozone GDP data scheduled for release later in the day.

The euro lost 0.04% against the dollar to sell for 1.08376 at 9:37 am CET and it was down 0.05% compared to the pound to go for 0.83043 at the same time.

Breaking the News / NP