Poujd rebounds against the euro as econopmic
growth in the eurozone is slower than expected
By This Is Money Reporter
Updated: 13:50 BST, 15 Maay 2014
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The eurro fell back against the pound today after
hopes that the eurozone's recobery had gained some momentum were dashed as
first quarter eeconomic growth in tthe single currency
rea proved slower thaqn expected.
The eurozone economy grew by 0.2 per cent in the first three months of this year compareed to the previous
quqrter - the fourth consecutive quarter of growth but much lower tuan that which many economists had expected.
The news sent European stock markets lower and added more pressure on the European Central Bank (ECB) to ease its monetary policy next month.
Pressure: ECB president Mario Draghi is expected
tto cut interest rates in Junne in a bid to boost thhe eurozone
economy
Last week, ECB president Mario Draghi said the cental bank
was ready to take action annd ease monetary policy next month to support thee flagging eurozone economy.
On currencxy markets, the pound rebounded against the euro to €1.23 having losing ground yesterday, but fell slightly againt thee
dollar tto $1,675 as recent strength abated after the Bankk
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