Euro falls to 17-day low against dollar as ECB cuts rates by 25 basis points

According to Jinshi Data, the euro fell to a 17-day low against the US dollar after the European Central Bank cut interest rates by 25 basis points and hinted at further rate cuts in the coming months.

Danske Bank analyst Mohammad Al-Saraf said in a note that the euro could turn positive next week as the Federal Reserve is expected to cut interest rates by then. He noted that the euro's decline was limited after the ECB's decision on Thursday, with the exchange rate fluctuating in the half-digit range several times before closing lower.