Euro falls from two-month high against the dollar ahead of bank stress test
The euro fell from a two-month high against the dollar today as investors were wary about bank stress test results due on Friday. Analysts reckon that the gains seen by the euro over the past few weeks have been overdone and that the stress test results may show a weakness in the euro zone.
The euro fell by 0.3 percent from $1.3029 to $1.2903 as the dollar also rose 0.1 percent against the yen ending the session at 86.83yen, but still hovering near the 7-month low hit last week. The dollar did fall against the Canadian dollar by 0.1 percent, ending trading at C$1.0532 as investors anticipate the Bank of Canada to raise its interest rates by 25 points later today.