Euro await signs of Turkey pain

The Citizen (KZN) - - BUSINESS -

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

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