Euro Set to End Five-Week Losing Run as Warsh Remarks Hit Dollar
The euro was poised to snap a five-week run of losses against the dollar as comments from Federal Reserve Chairman Kevin Warsh weakened the greenback.
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The euro was poised to snap a five-week run of losses against the dollar as comments from Federal Reserve Chairman Kevin Warsh weakened the greenback.
The euro dropped to its lowest against the pound since June last year, weighed down by concerns over Franceโs deepening fiscal crisis and fresh political risks in the region.
Morgan Stanley's FX and Emerging Markets Strategy Head James Lord said the euro could fall further toward $1.10 as risks mount. He joins Bloomberg's Anna Edwards, Tom Mackenzie, and Guy Johnson on "The Opening Trade" discussing France, Europe as a whole, and the election in Brazil. (Source: Bloomberg)
The euro has stumbled to a 17-month low against the US dollar on concern about France's ability to bring its public finances in order.ย The currency has fallen nearly 7% from its peak in late January.ย Meanwhile, global oil prices fell despite ongoing tensions around the Arabian Peninsula, after the G7 agreed to release up to 100 million barrels from strategic reserves and oil flows from the Persian Gulf have returned to pre-war levels.ย
Anna Edwards, Guy Johnson, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." For up to the minute market intelligence and insight, click MLIV . (Source: Bloomberg)
Hedge funds are loading up on options that will profit if the euro weakens against the dollar as political and fiscal risks mount in France.
The euro fell to its weakest level in 16 months as expectations that the Federal Reserve will further boost interest rates supports the US dollar.
The euro fell to its lowest in nearly two months versus the dollar, as options traders stepped up bets on further weakness following the Federal Reserveโs latest interest-rate increase.