Market News / Story
EUR/USD — Euro Slides to 10-Week Low Near $1.1430 as Traders Favor US Dollar Above All
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Pair has erased roughly 280 pips in a month as the Federal Reserve’s renewed tightening campaign, resilient US growth and Europe’s greater exposure to the energy shock strengthen the dollar. Euro loses 280 pips in a month fell toward $1.1430 Wednesday, marking its weakest level in 10 weeks. The pair has dropped roughly 280 pips, or 2.4%, over the past month. Put simply, one euro now buys nearly three US cents less than it did around the August peak. The decline has been…