AGL 40.25 Increased By ▲ 0.24 (0.6%)
AIRLINK 127.75 Decreased By ▼ -0.24 (-0.19%)
BOP 6.60 No Change ▼ 0.00 (0%)
CNERGY 4.48 Decreased By ▼ -0.12 (-2.61%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.76 Increased By ▲ 0.28 (0.68%)
DGKC 87.80 Increased By ▲ 1.22 (1.41%)
FCCL 32.51 Increased By ▲ 0.37 (1.15%)
FFBL 65.00 Decreased By ▼ -0.42 (-0.64%)
FFL 10.20 Decreased By ▼ -0.05 (-0.49%)
HUBC 109.50 Decreased By ▼ -0.99 (-0.9%)
HUMNL 14.56 Decreased By ▼ -0.19 (-1.29%)
KEL 5.13 No Change ▼ 0.00 (0%)
KOSM 7.52 Increased By ▲ 0.40 (5.62%)
MLCF 41.41 Decreased By ▼ -0.24 (-0.58%)
NBP 59.55 Decreased By ▼ -0.54 (-0.9%)
OGDC 193.70 Decreased By ▼ -0.99 (-0.51%)
PAEL 28.24 Increased By ▲ 0.29 (1.04%)
PIBTL 7.82 Decreased By ▼ -0.18 (-2.25%)
PPL 151.40 Increased By ▲ 0.23 (0.15%)
PRL 26.49 Decreased By ▼ -0.39 (-1.45%)
PTC 16.15 Increased By ▲ 0.15 (0.94%)
SEARL 82.50 Increased By ▲ 4.30 (5.5%)
TELE 7.67 Increased By ▲ 0.28 (3.79%)
TOMCL 35.50 Decreased By ▼ -0.17 (-0.48%)
TPLP 8.17 Increased By ▲ 0.26 (3.29%)
TREET 16.11 Increased By ▲ 0.22 (1.38%)
TRG 52.80 Increased By ▲ 0.04 (0.08%)
UNITY 26.50 Decreased By ▼ -0.05 (-0.19%)
WTL 1.24 Decreased By ▼ -0.03 (-2.36%)
BR100 9,916 Decreased By -4.4 (-0.04%)
BR30 30,746 Decreased By -5.5 (-0.02%)
KSE100 93,487 Increased By 261.9 (0.28%)
KSE30 28,958 Increased By 73.1 (0.25%)

imageNEW YORK: The euro's fall continued on Tuesday, pulled down by a weak batch of German data and hints the European Central Bank could unveil easing measures to fight off deflation.

The single currency logged its third straight daily drop against the dollar, sinking to $1.3169, the lowest level since early September 2013.

Behind the euro's weakness was Monday's report that Germany's Ifo business confidence index fell to the lowest level in 13 months in August.

In addition, the dollar pulled support from data showing a strong rise in US durable goods orders in July, and a surge in consumer confidence that added to signs of steady overall economic gains.

"It seems as though the (Federal Reserve's) Federal Open Market Committee is running out of arguments to retain its highly accommodative policy stance amid the ongoing improvements in the world's largest economy," said David Song of DailyFX.

"The bullish sentiment surrounding the dollar may gather pace throughout the coming months should we see a growing number of central bank officials adopt a more hawkish tone for monetary policy."

Comments

Comments are closed.