The Euro sunk to its lowest in 2½ years against the Dollar during the early part of Thursday’s session, following the publication of December eurozone industrial production output data, which came in below expectations and pointed to the sharpest decline in over 10 years.
At the same time China authorities published fresh figures for the number of infected with the coronavirus, using a new methodology which added 15,000 new cases overnight, sending shivers down the spine of investors and changing the mood of the markets to a more risk off stance. Currency traders fear that Europe may see its economic woes amplified by the impact of the coronavirus, whose global spread appears to be increasingly likely.
