The euro falls to its lowest level this year on expectations that the European Central Bank may cut interest rates before the Fed

The euro fell to its lowest level this year on expectations that the European Central Bank may cut interest rates before the Federal Reserve. The euro fell as much as 0.5% to 1.0675, hitting a five-month low. Francesco Pesole, a strategist at ING Bank, believes that Europe and the United States may return to the range of $1-1.05. Valentin Marinov, head of credit strategy at Fanon, said that the unprecedented monetary policy divergence will be the most important negative factor for the euro in the coming months. 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 meeting in June.