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Economic development
50 Euros (Union)
Al Ittihad Newspaper
LONDON (Reuters)
The euro fell to a two-month low against the dollar on Wednesday, due to weak economic data and speculation that the European Central Bank could open the door to a major easing of monetary policy starting next week. The single currency fell 0.1% to 1.117 USD, after reaching 1.127 USD, its lowest level since 30 May.
The euro reached a two-year low of $ 1,1105 in May.
The euro has lost 2% of its value since the beginning of the month, investors having taken into account the possibility of a larger drop in the cost of borrowing in the euro area below zero, and the dollar was overall the strongest of the loss of the euro. The dollar has gained after the agreement reached by Washington to lift government bonds, which badysts say could help cut interest rates.
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