Dollar steadies, euro slides after data surprises
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London
THE euro handed back almost all the previous day's 1-per-cent rise against the dollar on Tuesday after unexpectedly sharp declines in industrial output and investor morale underlined economic frailty and falling prices.
The single currency dropped by a whole cent to US$1.2640 and hit an 11-month low against the yen after both eurozone industrial output and the ZEW indicator of German investor sentiment came in well below forecasts.
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