The euro fell broadly on Thursday and could extend weakness after European Central Bank President Jean-Claude Trichet threw cold water on market expectations eurozone interest rates would rise anytime soon. The euro fell nearly 2 cents on the day to near $1.36, moving further away from a 12-week high of $1.3862 set on Wednesday.
Key support now lies at $1.3570, this week's low, and a break would open the door for a slide below $1.35. The euro fell as low as $1.3616 on trading platform EBS and was last at $1.3645, down 1.1 percent. The euro lost 1.2 percent to 111.24 yen. It also traded sharply lower versus the Swiss franc and sterling. The dollar was last little changed at 81.58 yen, while an index of the dollar versus a basket of six currencies, rose 0.7 percent to 77.689, rebounding from a 12-week low of 76.881 set on Wednesday.
Comments
Comments are closed.