The euro fell to its lowest level this year as the market expects the ECB to cut interest rates before the Fed

According to Jinshi, the euro fell to its lowest level this year as the market expected the European Central Bank to cut interest rates before the Federal Reserve. The euro/USD exchange rate fell 0.5% to 1.0675, a five-month low. Francesco Pesole, strategist at ING Bank, believes that Europe and the United States may return to the $1-1.05 range. Valentin Marinov, head of credit strategy at Fanon, said that unprecedented monetary policy divergence will be the most important negative factor for the euro in the coming months, and the loss of the 1.07 mark opened the door for Europe and the United States to fall to 1.05 before the European Central Bank's June meeting.