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Euro dives in Asia, quoted at lowest since 2006

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The euro fell sharply in Asia on Monday after a wave of stop-loss sell orders were tripped on the break of major chart levels, seeing the single currency quoted at lows last seen in early 2006.

[SYDNEY] The euro fell sharply in Asia on Monday after a wave of stop-loss sell orders were tripped on the break of major chart levels, seeing the single currency quoted at lows last seen in early 2006.

The euro was quoted as low as US$1.18605 on trading platform EBS and at US$1.1883 on Reuters. A thin market greatly exaggerated the move, said dealers.

The euro was last quoted around US$1.1927, compared to a trough of US$1.2002 on Friday.

REUTERS

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