ECB and US push euro to new lows

MARKET NEWS

A combination of upbeat US economic data and European Central Bank (ECB) rhetoric helped the euro drop towards its all-time low last week, writes Matthew Clements, economist at Prebon Yamane in London

Circumstances conspired to weaken the euro during the second half of last week, pushing the currency further towards its all-time low of $0.8230. After holding the $0.8500 level for most of the week, a combination of bullish US economic data, plus the outcome from Thursday’s ECB governing counci