Morning briefing: Europe's strong recovery slowing
An advertisement for a clothing store in Tokyo.
(Photo Credit: Yuriko Nakao/Reuters)
1. Europe's strong recovery appears to be slowing, according to economic data released Tuesday. Industrial production unexpectedly stagnated in July and German investor confidence fell sharply.
2. The U.K.'s Consumer Prices Index remained at 3.1 percent for the sixth month as prices for bread and clothes grew more sharply than expected.
3. The dollar fell to a new 15-year-low against the Japanese yen. The U.S. dollar also dropped to a fresh low against the Chinese yuan in the third day of trading as Congress prepares hearings on Beijing's foreign exchange policies.