The dollar's recovery pushes the euro and the pound to their lowest level in more than two years

LONDON (Reuters) – The euro fell Thursday to its lowest level in 26 months, after warning the US Federal Reserve against further interest rate cuts, as investors believe that the US economy is likely to be in the US. it was unlikely that the bank would attend a session. Long monetary facilitation.

In a widely anticipated move, the US central bank on Wednesday lowered interest rates for the first time since the financial crisis, facing the growing threat of rising tariffs and slowing major global economies.

However, the bank also noted that a reduction in interest rates of a quarter of a percentage point may not be the beginning of a long campaign of support to the "bank". economy.

The Fed's less hawkish tone helped the dollar recover, pushing its benchmark, which measures the greenback's performance against a basket of currencies, to a 26-month high of 98.93 on Thursday.

The euro fell to its lowest level in 26 months against the greenback at $ 1.1034, while the British pound hit its lowest level in 30 months at $ 1.2087.

In recent transactions, the euro fell 0.3% to 1.1037 dollar. The pound sterling fell 0.2% against the single European currency, to 91.29 pence for one euro.

The yen fell to its lowest level in three months, at 109.32 yen to the dollar, and fell 0.3% to 109.09 yen.

The Swiss franc rose 0.2% to 1.0983 francs against the euro, while the Australian dollar moved little further to 0.6847 USD.

(Reuters)