Euro heads for worst quarter ever

London

THE euro skidded to a 10-day low against the dollar on Tuesday, leaving it on track for its worst quarter ever, as investors bet that the monetary policies of the eurozone and the United States would increasingly diverge.

The euro has fallen 11 per cent against the dollar since the start of January, driven by the European Central Bank's launch of a 1.1 trillion-euro (S$1.6 trillion) quantitative easing programme and the contrasting expectations that the US Federal Reserve will start raising interest rates this year.