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Euro falls to 1-year low versus dollar

1st September 2014

The euro has declined to its lowest level versus the dollar in almost a year in forex trading markets today (September 1st). 

This comes ahead of a report due later in the session that is expected to show the pace of growth in the eurozone's manufacturing sector slowed further last month. 

With official figures released last week revealing the region's inflation rate dropped to a five-year low in August, it has been suggested the European Central Bank will be required to take further stimulus action when it meets on Friday.

In June, president Mario Draghi announced the introduction of a negative deposit rate at the bank and also unveiled a small business lending scheme that comes into action this month.

As a result, it is thought the bank will wait and see the impact this has before deciding whether or not to introduce a quantitative easing programme.

Early in the European trading session, the euro weakened to $1.3119 - its lowest level since September 6th 2013.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.