Speculation about the reduced pace of factory production and gross domestic product in the euro zone tugged down the common currency of the European Union against the Japanese for the first time in four days on Wednesday, Bloomberg reports.
From August to September, Bloomberg-polled economists said factory generation fell 0.3 percent after having edged up 0.1 percent from July to August. During the third quarter of this year, gross domestic product moderately rose 0.1 percent after advancing 0.3 percent during the April-to-June period.
Both the European Central Bank (ECB) and the Bank of Japan are believed to be en route to intervening, according to one analyst.
"The ECB and BOJ are seen as taking additional steps," senior analyst Kikuko Takeda with the Bank of Tokyo-Mitsubishi UFJ Ltd. in London told Bloomberg on Wednesday. "The ECB's rate-reduction has cut room for the euro to rise."
The 17-nation monetary unit fell roughly 0.3 percent against the yen after gaining 1.7 percent during the previous three-day period.
Two ECB policy makers said on Tuesday that the financial institution might cut borrowing costs again after reducing them last week, according to Reuters.
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