The euro fell to a 13-month low against the dollar on Friday after the Eurozone’s chief financial watchdog had become concerned overexposure of the zone’s major lenders to Turkey.
The euro was one of the worst performing currencies in Friday trading, dropping 0.6 per cent to $1.146, a 13-month low. The euro was also down 0.5 per cent against the pound at £0.894.
Whilst the euro tested the $1.14 level for the first time since July 2017, the single currency’s fall - along with a renewed bout of weakness for sterling — helped the dollar index break out of its recent range and reach the highest level in more than a year.
The dollar index rose correspondingly at the outset of the European trading session as losses by the euro helped push the gauge of the US currency’s strength to its highest level since July 2017. The 0.5 per cent jump by the gauge, which measures the greenback against a basket of peers, left it at 95.988.
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