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EUR/USD Down for a Second Day as Productivity Grew

June 4, 2009 by

EUR/USD continued to fall today as the ECB kept interest rate unchanged and the U.S. productivity in the first quarter of 2009 rose faster than expected. The currency pair is now trading near 1.4121.

Initial jobless claims were at 621k last week, down from 625k reported for a previous week, almost the same as the traders have expected (620k).

Nonfarm productivity in the business sector rose by 1.6% in the first quarter of 2009. The growth was revised from 0.8%. Market participants expected an increase by 1.2%.

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