The
euro headed for its biggest monthly decline since March as economists
unanimously forecast the European Central Bank will unveil additional
stimulus this week.
The
19-nation currency approached the lowest in seven months versus the
dollar as investors are pricing in a 100 percent chance of a
10-basis-point cut in the ECB’s deposit rate on Dec. 3. A gauge of the
dollar climbed to the highest since March as futures predict the Federal
Reserve will increase interest rates in December, expanding the
divergence between the two central banks.
The
euro fell 0.1 percent to $1.0583 as of 11:16 a.m. in Tokyo after
sliding to $1.0566 on Nov. 25, the lowest since April 14. The currency
has weakened 3.8 percent in November, its biggest loss since a 4.2
percent decline in March.
The
U.S. Dollar Index, which tracks the greenback against six major peers,
gained 0.1 percent to 100.14 after rising to 100.23, the highest since
March 16.
Source: Bloomberg
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