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Read More »FOREX-Sterling crumbles to all-time low, euro at 20-year low
(Updates prices, adds comment) By Dhara Ranasinghe LONDON, Sept 26 (Reuters) – Sterling crashed to a record low early on Monday as traders rushed for the exits on mounting concern that the new government’s economic plan will stretch Britain’s finances to the limit. The British pound’s searing drop helped lift the safe-haven U.S. dollar to a new two-decade peak against a basket of major currencies, while the euro hit a fresh two-decade low against the greenback. In Japan, authorities reiterated… Source link
Read More »Euro Tumbles to 20-Year Low, Putting Parity With Dollar in Sight
(Bloomberg) — The euro slid to a 20-year low against the US dollar as traders bet that the European Central Bank will go slower on raising interest rates as the economy risks being tipped into a recession. Most Read from Bloomberg The common currency fell as much as 1.4% to $1.0281, its weakest level since December 2002. The losses came as money markets continued to trimmed ECB tightening bets as growth outlook for the region darkens, with traders now eyeing the prospect of gas shortages as… Source link
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