Euro Hits One-Year Low of 1.1324 Against Dollar, Further Decline May Slow

EURUSD-0.34%
According to Societe Generale analyst Kit Juckes, on June 24, the euro's decline against the dollar may slow as recent expectations of Federal Reserve rate hikes and reduced bets on European Central Bank tightening pushed EUR/USD to 1.1324, a one-year low. Juckes noted that the euro has broken below the 1.14-1.20 range that dominated most of the past year, which may limit further downside pressure. New economic data will be needed to drive the next phase of movement.
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