Euro Hits 3-Month Low vs Dollar on Bets Fed Will Lift Rates in October
Dow Jones
Sep 29
0936 GMT - The euro falls to a three-month low against the dollar as markets price in a higher probability that the Federal Reserve will raise interest rates further in October compared to the European Central Bank. Markets price a 72% chance of the Fed raising rates 25 basis points next month compared to 46% for the ECB, LSEG data show. ECB President Christine Lagarde on Monday said the ECB should adopt a measured response given no evidence of second-round inflationary effects stemming from higher energy costs. "Her remarks confirm our suspicion that if one central bank hikes in October, it will be the Fed, and not the ECB, ING's Francesco Pesole says in a note. The euro falls to as low as $1.1333.
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