The euro extended its biggest quarterly slide versus the dollar since its inception as Greece struggled to avert a default.
The
19-nation currency’s share of global reserve holdings fell to the least
in 12 years amid the European Central Bank’s unprecedented monetary
stimulus. That contrasts with the U.S. Federal Reserve, which is on
track to raise interest rates this year for the first time since 2006.
The
euro fell 0.8 percent to $1.0747 as of 3:50 p.m. in New York, after
sliding 0.5 percent on Monday and losing 11 percent the past three
months, the biggest quarterly drop since the shared currency began
trading on Jan. 1, 1999. It declined 0.9 percent to 128.91 yen, pushing
its drop since Dec. 31 to 11 percent, its biggest quarterly loss since
September 2011.
The
Bloomberg Dollar Spot Index, which measures the greenback against 10
major peers, added 0.1 percent to 1,201.01. That extended a ninth
successive month of gains, the longest winning streak in data going back
to 2004.
Source: Bloomberg
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