Euro hits 5-year low, stocks down again on mixed earnings
A broker looks at a graph on his computer screen on the dealing floor at ICAP in London, Britain January 3, 2018. REUTERS/Simon Dawson
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LONDON, April 27 (Reuters) – The euro dropped to its weakest since 2017 on Wednesday as investors increasingly concerned about the global growth and inflation outlook snapped up dollars, while a mixed bag of corporate earnings sent stock markets lower again.
The dollar has roared 4.3% higher in April and is on course for its best month since January 2015, propelled by mounting expectations for the Federal Reserve to hike interest rates aggressively in coming months and the U.S. economy to hold up better than the euro zone.
Investors have been dumping the euro, and on Wednesday it dropped below $1.06 with another half a percent fall. Analysts say the it is being buffeted by the war in Ukraine and mounting worries about the single currency…
