Euro await signs of Turkey pain
There is little sign that the euro is about to turnaround its rough patch against the dollar as concerns over the exposure of the region’s banks to Turkey ratchet up.
The ECB’s concerns over European Union banks’ Turkey exposure has provided the catalyst for euro-dollar to fall out of the bottom of its threemonth 1.1500-1.1850 range.
The euro has the potential to drop further if there is more evidence of spillover from the rout in the lira to the euro-area banking sector. – Bloomberg