LONDON (APP) – The euro tumbled Tuesday towards a 12-year low against the dollar, hit by eurozone stimulus, growing US rate hike speculation and Greek debt concerns, dealers said.
In London, the European single currency sank to $1.0722 at the close — its lowest level since mid-April 2003. The region’s stock markets also retreated, with London’s benchmark FTSE 100 index dropping 2.52 percent.
The shared eurozone unit continued to flounder one day after the European Central Bank launched its 1.1 trillion euro ($1.2 trillion) quantitative easing (QE) stimulus “bazooka”.
The dollar neared an eight-year high against the yen as dealers bet on an interest rate hike from the Federal Reserve after bright US payrolls data.
The greenback surged in Asian trading hours to a high of 122.03 yen, a level not seen since July 2007. It closed at 121.21 yen in London.
