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Euro Slide Sees Currency Approach Key Support on Road to Parity
The euro’s slide this week has brought it to the cusp of one of the last major support levels standing in the way of its tumble toward parity with the dollar. The shared currency has slumped 1.6% over the past five days, slipping to a fresh five-year low of $1.0354 on Thursday. A key test is nearing at the January 2017 low of $1.0341, with a breach putting the euro at the weakest since it last traded at parity with the greenback almost 20 years ago. The euro has been pummeled this year as an increasingly hawkish Federal Reserve has supercharged the dollar, while the war in Ukraine has worsened the outlook for ... (full story)