Euro below US$1.10 as fears of recession increase

London

THE euro held below US$1.10 on Tuesday as positive German business morale survey data calmed sentiment, with large short bets against the single currency also keeping investors sidelined.

German business morale rose in September for the first time in six months but Europe's largest economy is still likely to slip into recession as the US-China trade conflict and Brexit bite, the Ifo economic institute said.