Friday saw the common currency of the European Union lose value against the Japanese yen and the U.S. dollar, consequences of the European Central Bank warning regional growth prospects are dim, according to Bloomberg.
Against the monetary unit of the Pacific Rim nation, the euro fell to its four-week low. Against the U.S. dollar, the 17-nation shared currency fell to its lowest value in eight weeks. Also tugging down the euro was reduced industrial production in France and Sweden during the month of September.
Statistics Sweden indicated industrial production fell 4.1 percent in the export-reliant nation as compared to August figures. France saw production drop 2.7 percent from the month prior, another report stated.
The past 12 months have seen the 17-nation monetary unit fall more than 6 percent as the embattled currency has emerged as the worst-performing of developed nation monetary units followed by Bloomberg.
The economic situations of Greece and Spain, two euro zone nations that are suffering under the duress of the sovereign debt crisis, also are pulling down the euro, according to Reuters.
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