The euro-dollar exchange rate on Forex fell to its lowest since 2017

The euro-dollar exchange rate on the international Forex market fell by 0.35% to $1.0598 in afternoon trading on Wednesday, April 27. The euro exchange rate fell below the $1.06 mark for the first time since April 2017, RBC notes.

The European currency fell against the dollar to its lowest level since 2017 as investors, worried about the outlook for global economic growth and expectations of accelerating inflation, began buying up dollars, Reuters points out.

The euro has depreciated 6.4 percent since the start of the year, and the European currency has fallen about 12 percent over the past 12 months.


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