Euro Hits 17-Month Low vs Dollar Ahead of Fed, ECB Decisions
Dow Jones15:53
0753 GMT - The euro falls to a 17-month low against the dollar as the U.S. currency strengthens and French fiscal concerns linger. The Federal Reserve is broadly expected to leave rates unchanged in a decision at 1800 GMT but markets price over 70 basis points of tightening over the next year, LSEG data show, supporting the dollar. A rally in oil prices boost the prospect of such tightening. Improved AI sentiment also lifts the dollar. Meanwhile, French debt concerns have raised doubts over the European Central Bank's scope to raise rates further in the near-term ahead of Thursday's meeting. The euro falls to as low as $1.1111.
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