The euro has fallen to a near 12-year low against the dollar, as the repercussions of the European Central Bank’s bond-buying spree and growing expectations of a US interest rate rise spread through global financial markets.
The euro, which has dropped 13.1 per cent against the dollar since the start of 2015, had dipped below $1.0700 by mid-afternoon trading in London
yesterday, raising the prospect of euro parity with the greenback. It also fell against sterling to below £0.71, its lowest level since December 2007.
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