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Euro slips to lowest since Sept 2003 against dollar

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The euro slid to a near 12-year low against the dollar on Tuesday, as the US currency found steady bids on the back of expectations the Federal Reserve may raise interest rates as early as mid-year.

[TOKYO] The euro slid to a near 12-year low against the dollar on Tuesday, as the US currency found steady bids on the back of expectations the Federal Reserve may raise interest rates as early as mid-year.

The European Central Bank, in contrast, remains deeply committed to monetary easing. It just launched its 1 trillion euro bond buying programme on Monday, driving euro zone debt yields lower to weigh on the euro.

The euro went as low as US$1.0808, down 0.4 per cent, its lowest since September 2003.

REUTERS

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