XE Market Analysis: Euro weakened by strong US Dollar and fears of potential contagion risk

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OVERVIEW

  • Sterling languishes over continued fears of no-deal Brexit.
  • US Dollar continues its rise against a basket of currencies.
  • The Euro dropped to a 13 month low against the US Dollar.

HIGHLIGHT

The Euro tested a new 13 month low against the US Dollar before recovering slightly. This is in part due to a strong Dollar but also due to fears of potential contagion risk, with growing concerns around the impact the weakened Turkish Lira could have on European banks.