Euro, GBP lose ground against USD - Religare

Euro lost ground against the dollar after gaining in previous two sessions as Dollar index was trading near the 83 mark.

Year-over-year Eurozone industrial production w.d.a. decreased by 2.3% in July, following a 2.1% fall the previous month whereas the consensus pointed to a steeper slide of 3.3%.

Rating agency S&P said that German economy is likely to maintain steady growth over medium term.

UK Pound also lost ground against the greenback after posting strong gains in last two sessions.

Japanese yen traded flat against the dollar even as Japan's industrial production data showed growth of 1.9% which was below the market expectations of 2% growth.

Source : Equity Bulls

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