LONDON—The euro sank to a two-decade low versus the dollar on Tuesday as another surge in natural gas prices reignited worries about the health of the eurozone economy and data showed eurozone business growth slowed sharply in June. The euro tumbled 0.9 percent against the dollar to $1.0325, its weakest since December 2002. Versus the…
Safe-Haven Demand Pins Euro Near a Five-Year Low
LONDON—The euro flattened on Monday, staying near a five-year low against the U.S. dollar, as investors sought safety in the greenback amid worries about slowing global growth. The war in Ukraine and its economic fallout, in particular soaring food and energy inflation, has been a major drag on the euro, which has weakened more than…
Downturn Fears Support Dollar, Aussie Slumps to Two-Year Low
LONDON—Gathering gloom about prospects for the global economy lifted the safe-haven dollar on Friday and pressured risk-sensitive currencies, with the Australian dollar tumbling to a two-year low. Rampant inflation and a rush by central banks to raise rates and stem the flow of cheap money has fuelled sell-offs across markets and lifted assets seen as…
Euro Drops Against US Dollar Amid Renewed Safe-Haven Demand
LONDON—The euro fell to a two-week low against the U.S. dollar and remained close to a 2015 low versus the Swiss franc amid safe-haven demand on renewed worries about higher rates and a global recession. The Swedish crown trimmed early gains against the euro after briefly jumping on the country’s central bank decision to hike…
Euro Trims Declines Against US Dollar After Spanish Inflation Surge
LONDON—The euro steadied on Wednesday after falling to a six-day low, reacting to the release of conflicting inflation data in Germany and Spain that created a difficult backdrop for European Central Bank policymaking. The European common single currency declined in early London trading after data showed June prices in the German state of North Rhine-Westphalia…
Euro Holds Below $1.06 as Lagarde Sticks to Script
LONDON—The Aussie and the Canadian dollar climbed on Tuesday on firmer oil prices while the euro held below $1.06 as European Central Bank (ECB) President Christine Lagarde offered no fresh insight on the central bank’s policy outlook. Oil prices are up 10 percent in barely a week on supply constraint concerns with Brent crude holding…
Dollar Struggles as Big Rate Hike Bets Cool
LONDON—The U.S. dollar struggled versus its major rivals on Monday as traders reassessed the prospects of aggressive rate hikes, while the euro led gainers at the start of the European Central Bank’s annual summit in Portugal. Aggressive interest rate hike bets have boosted the dollar in recent days with an index rising to a near…
Dollar Stumbles as Markets Rethink Interest Rate Path
LONDON—The U.S. dollar slipped on Friday and was heading for its first weekly decline this month as traders dialed down bets on where interest rates may peak and brought forward their views on the timing of rate cuts to counter a possible recession. A significant factor this week has been the fall in oil and…
Euro Struggles Around $1.05 on Gloomy PMIs
LONDON—The euro weakened broadly on Thursday as disappointing German and French PMI data confirmed the eurozone economy is struggling to gain traction, prompting traders to trim bets on big interest rate hikes from the European Central Bank. High prices in the eurozone meant demand for manufactured goods fell in June at the fastest rate since…
Euro, Sterling Knocked by Global Growth Worries
LONDON—The euro and sterling fell on Wednesday as concerns resurfaced that interest rate hikes from major central banks to contain inflation run the risk of a sharp global growth slowdown or recession. Data showing British consumer price inflation hit a new 40-year high at 9.1 percent sent sterling down almost 1 percent to a near…
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