The common currency of the European Union dove toward its 10-week trough against the Japanese yen on Wednesday after the release of weaker-than-expected regional sales data, according to Bloomberg.
The 17-nation monetary unit was moderately changed against the world's reserve currency after a services and manufacturing index was underwhelming. The European Central Bank is scheduled to meet on Thursday and analysts and economists anticipate the body will not change borrowing costs from the record-low rate of 0.25 percent.
The Wall Street Journal reports the Markit Purchasing Managers Index for the euro zone advanced to 52.9 in January after having registered at 52.1 in December 2013.
"Hopefully we will now soon see companies start to generate new jobs in significant enough numbers to bring down the region's unemployment rate in coming months, which will perhaps represent the true start of the economic recovery for many people," chief economist Chris Williamson with Markit told The Wall Street Journal on Wednesday.
The euro edged down roughly 0.5 percent against the monetary unit of the Pacific Rim nation one day after dipping to its lowest rate since mid-late November of last year, according to Bloomberg.
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