Euro falls vs major currencies; dollar jumps

New York

THE euro fell against major currencies and the US dollar rallied on Friday (Mar 4) as worries increased over the impact of the escalating Ukraine-Russia conflict, especially on Europe's growth outlook.

The euro fell below US$1.10 against the dollar, hitting its weakest level since May 2020. It was last down 1.3 per cent at US$1.0923 in its biggest daily percentage decline since March 2020. It also hit a fresh 7-year low versus the safe-haven Swiss franc.