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What was behind the euro's crash today?


Peter Kimani

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The euro today fell to new 8-week lows after the European Central Bank launched the strategic review of its monetary policy strategies. The markets did not receive the news very well given that investor usually do not like the uncertainty created when existing monetary policies are set to change.

The prevailing risk-averse investor sentiment also did not help the single currency given that most European equity markets closed much lower today. Investors are worried about the coronavirus that originated in China and has been spreading at a fast rate. The dovish stance taken by Christine Lagarde the ECB chief at her press briefing also contributed to the pair's woes.

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