12 minutes agoEuro falls against the dollar, this is the lowest level since 2002.
Periskopi(4 years ago)
(4 years ago)The euro against the US dollar has dropped to the lowest level in 20 years, until investors reevaluated the bets for increasing European Central Bank interest rates, given the increasing risk of recession in the region. The European currency dropped to 1,0331, or 0.9 percent, its most [...] level.
The European currency dropped by 1,031 to 0.9 percent, its lowest level since December 2002.
Money markets cut BEC austerity bets to less than 140 points this year, after the French service PMI was revised. This is less than 190 basic points almost three weeks ago, expanding the interest rate with the Federal Reserve.
This currency has dropped by more than 8 percent against the dollar this year, as record inflation has escalated the grip on family economies and businesses, and along with the aftermath of the war in Ukraine, has hampered the ECB's ability to raise rates as quickly as the FED.
The losses were complicated by poor liquidity and the sale to the Swiss euro-frang.
