FOREX-Euro drops against dollar before Germany's ZEW survey

* 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

By Olga Cotaga
LONDON, Feb 18 (Reuters) - The euro weakened on Tuesday,
close to the three-year low it fell to on Monday, before a
German survey that's expected to show a slump in investor
confidence and fuel growing 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, after weak manufacturing and gross domestic
product data from Germany suggested the euro zone is more
vulnerable than previously thought, while the U.S. economy
proved more resilient than the rest of the world.
The euro EUR=EBS traded down 0.1% at $1.0826, close to its
lowest since April 2017.
"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 raised concerns that
euro zone monetary policy will have to remain looser for longer.
The euro's next hurdle is the release of Germany's ZEW
survey at 1000 GMT. It's forecast to show economic sentiment
slipped from the highest since July 2015.
Minutes from the Reserve Bank of Australia's 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 0.6681 against the U.S.
dollar, a one-week low. AUD=D3 The Aussie has also been
buffeted by the coronavirus because of Australia's extensive
trade ties with China.
Norway's crown plunged to a 19-year low of 9.3195 against
the U.S. dollar. NOK=D3
The British pound fell 0.2% to $1.2979 GBP=D3 and by 0.1%
to 83.41 pence against the euro EURGBP=D3 as Britain and the
European Union laid out conflicting views on how to proceed with
trade negotiations.
Prime Minister Boris Johnson's Europe adviser, David Frost,
said on Monday Britain would not be threatened into following EU
rules to win a free-trade agreement with the bloc. Frost's comments contrasted with those of European
Commission President Ursula von der Leyen, who has called on
Britain to guarantee fair competition based on ambitious
environmental and labour standards.