Euro weighed down by soft economic data, Ukraine
By the Associated Press
LONDON (AP) — The euro fell to a near one-year low against the dollar in the wake of soft European economic data and uncertainty over the crisis in Ukraine.
Europe's single currency fell to a low of $1.3119 after a survey Monday showed that the manufacturing sector across the 18-nation eurozone lost momentum in August. The euro hasn't been lower since early September of last year.
The main reason behind the euro's recent weakness has been a growing expectation that the European Central Bank may be considering a monetary stimulus to boost the ailing eurozone economy. In the second quarter, growth in the eurozone ground to a halt.
The crisis in Ukraine has also hobbled the eurozone's economic outlook. Uncertainty over how the conflict will turn out has made businesses hesitant to invest.