Euro hits week low on growth, banking woes

London

STERLING and the euro suffered in another choppy day on currency markets on Wednesday, the single currency trading briefly below US$1.27 for the first time in a week after a news report that raised concerns over European banks.

The major currency pairs have struggled for direction since a sell-off last week that halted a three-month old rally in the dollar, but two days of negative newsflow have added to broader concerns about growth that should push the euro lower.