The euro fell below $1.37 this morning to match a six-month low on growing speculation that the European Central Bank will reduce interest rates in the face of declining growth.
“We’ve reached a turning point,†said Simon Derrick, at Bank of New York Mellon in London. “There should be a shift in demand for the euro with a shift in the monetary-policy stance. Should the euro be offered? Absolutely.†The currency may fall as low as the high $1.20s, he said.
Source: Bloomberg
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