SINGAPORE, July 27 ― The euro nursed losses today after its sharpest drop in two weeks, as a cut in Russian gas supply sent energy prices soaring, while the dollar held ground...
SINGAPORE, July 27 ― The euro nursed losses today after its sharpest drop in two weeks, as a cut in Russian gas supply sent energy prices soaring, while the dollar held ground ahead of an expected US interest rate hike later in the day.
“Energy supply is likely to remain a key issue for the European economy over the coming months,” said Kristina Clifton, a currency strategist at Commonwealth Bank of Australia. “The euro can trade below parity, more than just briefly sooner rather than later.” Markets have priced in a 75 basis point Fed hike later today, with a 13 per cent chance of a supersized 100 bp raise.
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