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Euro Declines to Lowest Since 2017 With Economic Woes in Focus
The euro slid to its weakest level since May 2017 amid growing concern that Germany could be headed for recession because of the lingering effects on the global economy from the coronavirus. The common currency fell as much as 0.4% to $1.0877 on Wednesday in New York. Concern about German Chancellor Angela Merkel’s succession plans and a dovish European Central Bank have weighed on the currency. Deutsche Bank AG now expects a slight contraction for Germany in the fourth quarter. Data for Europe’s largest economy for the period are set for release Friday. While the median prediction is for 0.1% growth, almost 30% ... (full story)