* Australian dollar falls to one-week low after RBA minutes
* Norway's crown plummets to 19-year low vs dollar
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
(Updates prices, adds latest news and more currencies)
By Olga Cotaga
LONDON, Feb 18 (Reuters) - The euro weakened on Tuesday,
close to the three-year low it touched on Monday, after a German
survey showed a slump in investor confidence, adding to
pessimism about the outlook for Europe's largest economy.
The euro has lost 3.4% of its value against the U.S. dollar
so far this year, as weak manufacturing and gross domestic
product data from Germany suggest the euro zone is more
vulnerable than previously thought, while the U.S. economy has
proved more resilient than the rest of the world.
The euro EUR=EBS traded down 0.1% at $1.0830, close to its
lowest since April 2017. The mood among German investors
deteriorated far more than expected in February on worries the
coronavirus outbreak that started in China would dampen world
trade, the ZEW research institute said in its monthly survey
showing economic sentiment among investors. "Breaking the EUR/USD 1.0800 level seems to be a question of
when rather than if," said Petr Krpata, chief currency
strategist at ING. "The mix of soft euro zone data, the market
pricing renewed ECB deposit rate cuts and attractive euro
funding characteristics do not bode well" for the euro.
Poor economic data in the euro area has raised concerns euro
zone monetary policy will have to remain looser for longer.
Minutes from the Reserve Bank of Australia's (RBA) first
meeting of the year similarly fuelled expectations of lower
interest rates. The RBA left rates at a record low of 0.75% at
that meeting, but the minutes showed it was prepared to ease
policy further if needed.
The Australian dollar fell 0.5% to 0.6674 against the U.S.
dollar, an eight-day low. AUD=D3 The Aussie has also been
buffeted by the coronavirus because of Australia's extensive
trade ties with China.
"If it weren't for the virus, the incredibly cheap Aussie
dollar would be definitely worth buying," said Marc-André
Fongern, head of FX research at Fongern Global Forex.
"However, investors should exercise patience as the
Australian economy looks set to face further downward pressure."
China's yuan - the most vulnerable currency to the spread of
the coronavirus - fell 0.3% to an eight-day low of 7.0110
against the dollar in the offshore market CNH=EBS .
China is racing to contain job losses as the virus batters
its economy. Norway's crown plunged to a 19-year low of 9.3365 against
the U.S. dollar. NOK=D3
The British pound remained under pressure as Britain and the
European Union laid out conflicting views on how to proceed with
trade negotiations. The currency was last up 0.2% at $1.3031
GBP=D3 .
Elsewhere, the Japanese yen rose to a five-day high of
109.66 against the U.S. dollar JPY=EBS on the back of the
coronavirus outbreak. A study showed that almost twice as many
Chinese medical workers have been infected by coronavirus as
officially reported by the government.