Euro under pressure as inflation fears send investors to dollar haven [Reuters]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: Reuters
SINGAPORE/HONG KONG, June 30 (Reuters) - The euro struggled to regain a footing on Thursday, having tumbled overnight against a resurgent U.S. dollar, which benefited from safe-haven demand on renewed worries about higher rates and a global recession. The euro was at $1.044, after losing 0.75% on the dollar the day before, and heading for a monthly decline of 2.7%. It also dropped to a fresh 7-1/2-year low versus the Swiss franc at 0.99663 francs, with the Alpine currency another beneficiary of safe-haven flows and also still basking in the afterglow of the Swiss National Bank's surprise rate cut two weeks ago. read more Advertisement · Scroll to continue Christopher Wong, senior FX strategist at Maybank, attributed the euro's fall against the dollar to the market moving away from riskier assets after "central bankers warned of lasting inflation and that they would prioritise combating (it), resulting in broad dollar rebound overnight." A steady and aggressive global switch
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