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Forex News: Euro Drops Against Majors

Euro Drops Against Majors

05/29/2018 - 04:22:00 (RTTNews)

(RTTNews) - The euro weakened against its major counterparts in early European deals on Tuesday.

The euro dropped to near a 7-month low of 1.1566 against the greenback and near a 2-week low of 0.8720 against the pound, from its early highs of 1.1640 and 0.8741, respectively.

The single currrency dropped to 1.1490 against the franc, its lowest since February 28.

The euro slipped to near a 1-year low of 125.73 against the yen, after having advanced to 127.28 at 7:00 pm ET.

The 19-nation currency fell to a 5-day low of 1.5036 versus the loonie, near 5-month low of 1.5349 against the aussie and a 1-1/2-month low of 1.6695 against the kiwi, reversing from its early highs of 1.5112, 1.5455 and 1.6786, respectively.

If the euro falls further, it may find support around 1.14 against the greenback, 0.86 against the pound, 1.13 against the franc, 124.00 against the yen, 1.49 versus the loonie, 1.51 against the aussie and 1.65 against the kiwi.

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