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Euro falls to its lowest since May 2017
The euro fell below $1.10 on Friday to its weakest since May 2017 as a multi-day downward shift in the single currency intensified in afternoon trade. Traders had varied explanations for the drop, including that month-end rebalancing of portfolios heightened an existing bias. The longer-term trend, which has seen the euro fall 0.90% in August, has been driven by an economic slowdown in Europe among other factors. “We had a quick 50-odd point drop, which seems to be month-end related. Clearly the euro has been quite soft for some time. We touched below $1.10 earlier in August and we’ve struggled really to rebound ... (full story)