Euro Falls, Deemed Vulnerable Due to High Energy Prices
Dow Jones
Yesterday
0809 GMT - The euro weakens to its lowest in two weeks against a broadly stronger dollar as renewed Middle East hostilities increase energy prices. Rising oil and gas prices, in addition to increased expectations that the Federal Reserve could raise interest rates soon--potentially as early as this month--leave the euro vulnerable to further declines, ING's Chris Turner says in a note. The euro could extend its drop to $1.1520, while $1.1500 "looks an appropriate target for month-end," he says. The euro falls to a low of $1.1565, LSEG data show.
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