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The euro fell to $1.044 and hit a 7.5-year low against the Swiss franc as safe-haven demand lifted the dollar. Central bankers at Sintra warned they would prioritize fighting inflation even at economic cost.
The euro was heading for a 2.7% monthly decline.
Dollar strength driven by hawkish central bank rhetoric and recession fears can weigh on dollar-denominated commodity prices and raise import costs for Europe.
brecorder.comReutersJun 30, 2022After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
