24 Jan '11, 6pm

FOREX-Euro eases vs dlr; UK GDP shocker slams pound: * Euro falls 0.3 pct at $1.3606 ; support $1.3585

* Euro falls 0.3 pct at $1.3606 <EUR=>; support $1.3585 * Stop-loss hunting in euro/dlr after EFSF, Spain auctions * Sterling tumbles after UK Q4 GDP shrinks unexpectedly By Tamawa Desai LONDON, Jan 25 - The euro came off a two-month high on Tuesday as the euro zone rescue fund's first offer of debt went in line with expectations, while the pound dived after figures showed a shock contraction for the economy last quarter. Speculation about potential interest rate increases in the euro zone and Britain took a step back as the poor UK GDP data prompted investors to focus on worries about growth rather than inflation. "The UK GDP may be a warning sign of what is to come in Europe. Market participants may reassess the rate hike scenarios which had led to a short squeeze," said Lee Hardman, currency economist at Bank of Tokyo-Mitsubishi UFJ. Expectations the European Central Ba...

Full article: http://sg.news.yahoo.com/rtrs/20110125/tbs-markets-forex-...

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